An umbrella policy is additional coverage that kicks in after your primary coverage is exhausted. Let's say you have a homeowners and an umbrella policy and need to file a claim. When the homeowners coverage limits are reached, the umbrella will pick up the remainder.
Homeowners should consider an umbrella, especially if they have one or more of these three situations in your yard.
Pools, trampolines and play equipment are considered “attractive nuisances”. While fun, they can bring major risks. Homeowners coverage for them can be tricky. Mix in houseguests and partygoers and they become even more risky.
An umbrella policy can help insureds get outside safely while protecting them against catastrophic losses — and may provide specialized legal defense when needed.
1: Swimming Pool
If you have a swimming pool, reexamine your homeowners policy limits. Are they high enough? Unfortunately, as insurance agents, we advise you to think in terms of the worst: a drowning or a catastrophic injury, like paralysis. Extensive injuries can cause a lifetime of suffering and debt.
Remember to install safety accessories to keep your family, friends (and even uninvited guests) safe.
2: Trampoline
Trampolines are often excluded from homeowners policies, so you’ll definitely want to verify coverage on this one.
We encourage you to read manuals, as it will give important information to establish strict rules about usage. Be sure to note age restrictions, proper installation with safe landing surfaces and to always supervise when someone is jumping.
3: Play Equipment
Play equipment must be age-appropriate and installed securely on a safe surface. We recommend hiring a professional if you’re considering adding a playset or a swing set to your yard. If one is already in place, have a professional come by to inspect fastenings and do routine maintenance.
