A personal umbrella policy from RLI provides your customers an extra layer of affordable liability protection over their existing homeowners and auto insurance policies.
Two important coverages that homeowners should consider above and beyond their homeowners insurance are a personal umbrella policy and, if they have a home-based business, a home business insurance policy.
Personal Umbrella Policies
Did you know that owning a dog, driving a car or having guests over could make your customers the target of a lawsuit—even if they are not directly responsible for the cause?
Each year, one in 12 Americans will be sued, and the cost to defend oneself against a personal injury lawsuit, plus the expense of a settlement including legal fees, medical bills, lost wages, and compensation for pain and suffering, can amount to hundreds of thousands, or even millions of dollars.
Fortunately, an RLI personal umbrella policy can provide the financial protection needed in the event of a lawsuit.
RLI's personal umbrella policy provides an extra layer of liability protection that goes above the coverage limits already provided by your customers' auto, homeowners, boat or other personal insurance policies.
Simply put, it pays when your customers are legally obligated and financially responsible for damages that exceed their policy's limits.
Unlike many personal umbrella policies, RLI's personal umbrella is a standalone policy, which means we don't require your customers to have their other personal insurance coverage with the same insurance company.
In addition to affordable premiums, in most cases we can offer limits up to $5 million dollars.
Home Business Insurance
Did you know that home-based businesses account for about 50% of all businesses in the United States?
Whether your customers have established home-based businesses or are just starting out on their own, it's important to ensure their assets—and livelihoods—are protected with a home business insurance policy from RLI.
Many home business owners are unaware that typical homeowners or auto insurance policies don't provide adequate coverage for a home business.
For instance, say a power surge damages your customer's computer that houses all their client orders and invoices. Or their groceries spill onto the inventory they're transporting in the truck of their car. Or worse yet, they have business equipment stolen from their home office.
In many cases, incidents like these are usually excluded from a homeowners policy. In fact, most homeowners and renters policies don't cover liability or damage to property from business activities. Which is where home business insurance from RLI comes in.
An RLI home business insurance policy provides coverage that caters to home businesses and the unique challenges they face.
RLI covers more than 140 classes of home-based businesses. With liability limits up to $1 million and business property protection up to $100,000 with a $250 deductible, you can offer your customers valuable coverage at affordable rates.
Both an RLI personal umbrella policy and home business insurance coverages are available through select agents and program administrators. Contact your agent or broker for more information and to help you choose the right policy for your needs.
To learn more about RLI's personal umbrella and home business insurance policies, contact your RLI state administrator.