Personal Umbrella Insurance Policy
Personal Umbrella Insurance
A Personal Umbrella Liability Policy provides extra liability coverage for your home, auto, and other personal insurance policies. If your liability limits are exhausted for your primary policies, the Umbrella will provide extra coverage in the amount of $1 million up to $10 million. This protection comes at a modest premium, often less than a few hundred dollars per year.
Who Needs Personal Umbrella Insurance?
We highly recommend everyone has a personal umbrella liability policy, but you should definitely consider umbrella insurance coverage if:
You Own a Home
Homeowner’s insurance is a necessary protection for anyone with a home. But certain events can cause a homeowner to be liable for damages well beyond what a typical policy will cover. Pools can lead to injury or death where the homeowner can be found liable. General injuries on your property can also be sources of extreme financial liability where an umbrella policy can prevent you from owing money beyond what your homeowner policy can pay out.
You Have Teenage Drivers
The damages caused by any auto accident can be extreme. Most teen drivers are insured as part of the parents’ auto insurance policy, leaving you responsible for damages associated with an accident where they’re liable. Umbrella insurance policies can protect you from being personally responsible for costs past the maximum payout of your insurance if your teen driver causes major damage.
You Own a Boat, RV Or Motorcycle
An umbrella policy helps protect you during any vehicular accident. However, if you own a boat, RV, motorcycle, ATV or other recreational vehicles, costs associated with accidents can be far higher than with standard automobiles. Umbrella insurance mitigates these high costs if they happen.
You Have a Dog
Injuries caused by a dog are the responsibility of the owner. Even a small dog bite can cause the owner to have liability for damages based on medical expenses, lost wages and beyond.
Personal umbrella insurance policies offer a lot of protection at a relatively low cost – as these policies require you to have existing insurance policies already! Fortunately, you’re often eligible for a multi-policy discount when you consider a home and auto insurance policy with personal umbrella insurance – adding to your savings while increasing your protection!
Request A Quote For Umbrella Insurance
Obtain a quote to start customizing a plan designed for your needs.
FAQs About Personal Umbrella Insurance
Can I Just Get an Umbrella Insurance Policy?
No. Umbrella insurance policies are supplemental, which means they only add extra coverage on to an existing policy. They’re designed to prevent you from being liable for damages following an accident where the cost exceeds your current coverage.
How Do I Know If I Need an Umbrella Insurance Policy?
Everyone benefits from an umbrella insurance policy. Relative to the cost of your standard insurance, it’s very inexpensive and adds a great deal of additional coverage. No matter your assets, umbrella insurance could prevent financial hardship in the event you cause damage to a person or property that has significant costs associated with medical or repair bills.
If you own major assets, feel that you have a higher risk for incident, or otherwise simply want the peace of mind knowing your insurance will protect you in most reasonable circumstances, an umbrella insurance policy is a great addition to your financial planning.
Do Umbrella Insurance Policies Protect Me from Damages in a Lawsuit?
In many circumstances, yes. If you’re insured for a particular event, such as an auto accident, and are sued for damages that extend beyond your insurance coverage’s capabilities, the umbrella insurance policy will cover the additional damages from the lawsuit up to your maximum limit based on your umbrella insurance policy.
Report A Claim
Do you need to report a claim? Our dedicated claims specialists are standing by to help!
Find out about our claims process, who to contact, and how you can receive afterhours claims assistance.