PERSONAL UMBRELLA INSURANCE

While it’s rare for a claim to reach the maximum payout on an insurance policy, if such a situation occurs and litigation is involved, your personal assets—like your home, property, and savings—could be at risk. Having umbrella insurance, however, gives you peace of mind knowing that you have the extra coverage needed to protect you in the event of a catastrophic claim.

The following addresses some of the more common questions consumers have regarding personal umbrella insurance.

Get A Quote For Your Personal Umbrella Policy Today

• Excess liability coverage offers protection beyond the limits of your other insurance policies. For example, if you’re responsible for a 10-car pileup, each driver could sue you for damages. This could quickly exhaust the liability limits on your auto policy. Without an umbrella policy, these lawsuits could jeopardize your personal assets. However, with an umbrella policy in place, you’ll have extra liability coverage to protect you once your auto policy’s limits are reached.
• Umbrella policies also cover defense costs. In the case of the 10-car pileup, legal fees and court expenses can quickly accumulate. An umbrella policy will cover these costs, so you won’t have to pay them out of pocket. If you’re found at fault, any remaining umbrella coverage after paying for defense costs can be used to cover the liability expenses you owe.
• An umbrella policy also offers expanded homeowner insurance coverage, which is often overlooked. For example, if your dog escapes and bites someone, or if a guest is injured on your trampoline or hammock, a standard homeowner's policy may not cover these incidents due to specific exclusions. However, an umbrella policy could provide protection in these situations, even when your homeowner’s policy doesn’t.
• There are limitations to what an umbrella policy will cover. Generally, it excludes physical property damage. For example, if your home or vehicle is damaged and the limits on your homeowner’s or auto policy are maxed out, umbrella insurance wouldn’t cover the costs. Similarly, umbrella insurance doesn’t cover personal property, so if someone steals your belongings or vandalizes your boat, your individual policies for those items would handle the claims.

The best way to understand the benefits of an umbrella policy is to speak with a licensed agent in our office. We can help you assess your personal insurance needs and offer quotes from several top insurance companies to find the right coverage for you.

Our licensed team is ready to help you get multiple umbrella insurance quotes. As an independent insurance agency, we can shop from various insurance companies to find the right coverage at the best price for you.