Umbrella Insurance

What Is Umbrella Insurance?
Umbrella insurance is a type of personal liability insurance designed to provide extra coverage for a claim that is larger than what your homeowners insurance, auto insurance, renter’s insurance, or other personal liability policies may cover. It is designed to give you an added layer of personal liability protection in addition to your current liability insurance.

Umbrella insurance is an affordable way to help protect yourself from unforeseen circumstances or liability claims such as injuries, damages to someone else’s property, and certain lawsuits. An umbrella policy can also be added to other policies you already have including coverage for motorcycles, boats, jet skis, and other recreational vehicles.

What is Typically Covered by an Umbrella Insurance Policy?
Umbrella insurance can cover you and members of your household against potential lawsuits including bodily injury, personal injury, property damage, and landlord liability, depending on your policy. It can help cover defense costs if you are sued for injuries caused to others in an accident or damage to someone else’s property.

For example:

You’re hosting a party and your dog injures a houseguest. Your houseguest could potentially need medical care. If the cost of this care exceeds your liability coverage on your homeowners policy, your umbrella policy may cover the additional costs.

You’ve been in an at-fault car accident that injures two passengers and causes severe damage to the other vehicle. Your auto insurance may cover up to the limit you selected, but if the total cost in injuries and damages surpasses your policy limits, you may still be held legally responsible for the remaining balance, which an umbrella policy can help cover.

Who Needs an Umbrella Insurance Policy?
While your current insurance policies may provide a lot of protection, accidents can happen to anyone at any time. Umbrella insurance is an affordable way to help prevent potential accidents from becoming a life-changing financial burden. Additionally, umbrella insurance may also cover members of your household such as a spouse or children, and you can add extra optional umbrella coverage for things such as rental properties, vacation homes, or additional motorized vehicles.

Umbrella insurance can be particularly beneficial to anyone who wants to protect themselves against potential lawsuits and have an extra layer of protection for their assets. An agent can help you decide how much umbrella insurance coverage you need and find the policy that can be best suited for you.

What Is Typically Not Covered by an Umbrella Policy?

  • Your Personal Property: An umbrella policy is liability-only, which means it is designed to cover expenses if you’re held responsible for damages to someone else’s property.
  • Intentional Damages/Crimes: Any damage caused intentionally or harmful behavior that causes an injury is not protected by your umbrella insurance policy.
  • Contracts: Any liability you agreed to in a signed contract, such as if a contractor is hurt in your home, is not covered by umbrella insurance.

Umbrella Insurance Prepares You for the Unexpected
It’s important to be prepared for your future, and that can sometimes mean protecting yourself from the unexpected accidents life can bring your way. Adding an umbrella insurance policy is an effective, low-cost way to help make sure you and your family are safely covered.

Contact an agent today to get an umbrella insurance quote and learn more!

Policies and their features are subject to availability and may vary by state. For complete list of limitations and exclusions, costs and details of coverage and benefits, please contact us.

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