Accidents and lawsuits are both incidents that we cannot avoid. Umbrella Insurance is often known as “extra liability insurance" which protects you from serious personal injury lawsuits and all situations where you could be sued. Besides personal injury protection, this policy covers a wide range of legal problems like slander, false arrest, property damage, libel, and other coverage problems that might occur on rental properties.
At the Commonwealth Insurance Center in Williamsburg, VA, we are committed to ensuring you get covered. We often advise mostly landlords to have this policy, although anyone can have it. Some of the coverages done by the umbrella policy include:
Bodily Injury Liability
This policy covers the cost of bodily injury of other people due to your negligence. Examples include:
- Accidents in which you are at fault.
- Harm caused to people by your pet.
- Injuries sustained by your guest at your home.
- Injuries on a neighbor’s child who gets injured while playing in your compound.
Property Damage Liability
This covers the damage cost to someone else’s property due to your negligence. Examples include:
- Damage done by your pet on a neighbor’s property like breaking a glass window.
- Damage to vehicles in an accident in which you are to be blamed.
- Accidental damage incurred on a property as a result of your child’s negligence or ignorance.
Rental Unit Liability
This policy protects against liability risks a landlord may come across. Some examples of rental unit liability include:
- Someone tripping and injuring himself/herself while walking on a cracked sidewalk.
- A visitor attacked by an animal and holding you responsible for injuries.
Come and get a quote from the Commonwealth Insurance Center in Williamsburg, VA today. To get more information or for any inquiries, visit our office, and our highly trained staff will be happy to assist you.