Umbrella Insurance

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What is an Umbrella Policy?

An umbrella policy provides an extra layer of liability protection above your home and auto insurance coverage. Umbrellas kick in after the liability insurance in your homeowner and auto policy is exhausted.

Why Should You Carry Umbrella Coverage?

Liability insurance pays for expenses related to legal fees, medical expenses and lost wages as the result of negligence. Typically, a personal liability umbrella policy is inexpensive compared to the amount of protection it provides. For as little as $150 per year, you can get $1 million additional coverage under an umbrella policy.

Be aware, there are some restrictions on what an umbrella policy may cover such as claims related to a business and intentional acts. Minimum amounts of coverage should be met on home and auto policies before an umbrella policy is issued, but the extra coverage is important if you have assets you need to protect.

Example of How Extra Coverage Can Protect Your Assets

Letís say your neighbor falls and injures himself at your home or in your yard. Youíre liable, simply because the accident occurred on your property. If your neighbor requires surgery and misses months of work, the liability coverage under your homeowner policy could be inadequate (most homeowner policies typically provide a liability coverage limit of anywhere from $100,000 to $500,000). If you have to respond to a lawsuit, and the liability coverage under your homeowners policy isnít adequate, your assets could be at risk.

Contact your agent today to find out if you have the right amount of protection for you and your family.

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