An umbrella policy is additional liability insurance to protect you and your assets from major claims. An umbrella liability policy can be used to boost your liability coverage above your limits on your homeowners, boat, and auto insurance.
How Does an Umbrella Policy Work?
An umbrella liability policy kicks in when the liability coverage on your primary insurance policy is not enough to cover damages you cause in an accident or injuries on your property.
As an example, what happens if you cause an accident and the other driver is seriously injured? While your regular auto insurance has a limit of $150,000 that you selected, that limit may not be enough to cover all of the other driver’s medical expenses. If you are sued for $850,000, your auto policy will pay the first $150,000, but you may still be legally liable for the remaining $700,000. If you have a personal umbrella policy, it can provide the extra coverage you need to protect your assets.
What Umbrella Liability Insurance Covers
Umbrella insurance is typically available in $1 million increments for as little as one dollar a day. With a personal umbrella liability policy, you get:
$1+ million in liability coverage
Extra liability coverage beyond the limits of your auto, home, boat, and RV policy.
Protection from liability claims that are not usually covered by standard policies. This includes slander, libel, accidents involving rented vehicles, and accidents involving vehicles rented outside of the country.
Legal defense, including costs and attorney fees, if you are sued, even in the case of frivolous lawsuits.
Coverage for you and members of your household.
Your umbrella policy can protect you in many personal liability situations. In addition to covering you when your regular policy won’t, an umbrella policy boosts your liability coverage for bodily injury and property damage.
Bodily injury liability covers the cost of injuries you cause to someone else by paying medical expenses that result from serious car accidents, dog bites, injuries resulting from a fall on your property, or injuries sustained by a child playing on your property. Property damage liability covers the cost of damage you cause to someone else’s property related to a pet, a car accident, or accidental damage to school property.
This type of policy can even help landlords get extra protection against liability.
Request a Quote for Umbrella Insurance
Are you interested in gaining additional protection than your auto and home policies can offer? Contact us today for a free quote on umbrella liability insurance for at least $1 million more in protection against the unexpected.