Personal Umbrella Insurance

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COVERAGE BEYOND LIMITATIONS

What is personal umbrella insurance?

Home and auto insurance policies are an important stepping stone in your financial future and are a great way to protect your personal assets. However, there are limits to their protection and you can select the amount of coverage want. Unfortunately, these insurance policies only cover you up to a certain amount. For coverage beyond those limitations, you need a personal umbrella insurance policy.


What are the benefits of having umbrella insurance?

Standard policies provide you with valuable protection

However, there is still a chance that you can become financially liable for a sum larger than what your policies will cover. For instance, say you have a fire in your home, and it spreads to destroy your neighbor’s property. Does your home insurance policy include enough liability coverage to pay for the damages?

Umbrella insurance can protect your assets

Umbrella insurance can protect your assets if you are held liable for property damage or bodily injury. It can also help cover legal fees, false arrest, libel and slander. If you are sued and do not have enough coverage with your standard policies, all your assets are exposed. This can include your house, car, financial and retirement accounts, and future income.

Add more coverage on top of your basic policies

Think of umbrella insurance as a blanket policy that adds another layer of coverage on top of your basic policies. When you’ve reached the limits on your home or auto insurance, your umbrella insurance then helps cover the remaining costs.

Standard policies provide you with valuable protection

However, it's still possible for you to become liable financially for an amount greater than what your insurance policies will cover. For example, if a fire were to damage your home and then spread next door to your neighbor's house, would your homeowners insurance policy have enough liability coverage to pay for all the damages?

Protect your assets with an umbrella policy

An umbrella insurance policy protects your assets in the event that you are held liable for bodily injury or property damage and can assist in covering resulting legal fees, false arrest, libel or slander. And, in the event that you are sued and don't have enough coverage with your own standard policies, without an umbrella policy, all your assets are exposed. Your car, home, financial and retirement accounts, as well as future income will be open and exposed.

Add additional coverage

Consider umbrella insurance as a blanket policy which adds an additional layer of coverage on top of your basic policies. Once you hit the limits on your homeowners or auto insurance, your personal umbrella with help cover the left over costs.