The purpose for Fort Lauderdale car, minivan, motorcycle, RV, ATV homeowners to purchase insurance are twofold. The first is to insure against one’s own potential liabilities that can be caused by our own negligence in creating an automobile, minivan, motorcycle, RV, ATV or slip and fall injury accidents. The purpose of purchasing the insurance for such liability claims is to essentially transfer the risks for the payment of any potential personal injury liability settlements or judgments to the insurance company and away from the individual or corporately insured’s direct exposure. The purpose of purchasing uninsured or underinsured motorist coverage for car, van, motorcycle, or truck type accidents, is for a presumption that you may be injured by the carelessness of others and that wrongdoer is either without liability insurance, as mentioned above, or do not have enough liability insurance to cover the full extent of your injuries or damages.
An umbrella policy quite literally can cover your liability exposure over many if not all of your assets. The umbrella insurance is designed to cover personal injury claims over your cars, minivans, motorcycles, trucks, boats, airplanes, helicopters, homes and properties, uniquely all under the umbrella of one insurance policy. These policies generally “kick in” over and above the underlying minimally required liability insurance coverages that you must maintain for each one of your separate property ownerships to be offered the umbrella coverage.
The often overlooked extra coverage available with umbrella policies is for a blanket underinsured benefits provision.