Umbrella Insurance

If you ever lost a lawsuit greater than what your existing insurance will pay, you could lose everything! Umbrella insurance is designed to make sure you never find yourself living that nightmare.

What Is Umbrella Insurance?

Umbrella insurance is a type of insurance policy that provides additional liability coverage above and beyond what is provided by other insurance policies, such as auto insurance or homeowner’s insurance. This type of insurance is designed to protect individuals from financial losses and other risks that may arise if they are found liable for damages that exceed the limits of their existing insurance policies.

Umbrella insurance can provide coverage for a wide range of liability risks, including personal injury claims, property damage claims, and even claims related to defamation or invasion of privacy. This type of insurance can be particularly useful for individuals who have significant assets or who may be at risk for high-value lawsuits.

For example, if a person is found liable for a car accident that causes significant injuries and damages, the cost of the resulting lawsuit may exceed the limits of their auto insurance policy. In this case, an umbrella insurance policy could provide additional coverage to help protect the individual’s assets and financial well-being.

Umbrella insurance policies typically have higher coverage limits than other types of insurance policies and can be customized to meet the specific needs of the individual. However, it’s important to note that umbrella insurance is not a substitute for other types of insurance coverage and is designed to work in conjunction with other policies.

Overall, umbrella insurance can provide valuable protection and peace of mind for individuals who are at risk for high-value liability claims, but it’s important that we carefully review the terms and coverage options to find you the policy that fits your needs the most.

Umbrella insurance can be indispensable when you find yourself liable for a claim larger than your homeowner’s insurance, auto insurance or watercraft’s liability insurance leaves off.

KEY TAKEAWAYS

Umbrella insurance is a type of personal liability insurance that covers claims in excess of regular homeowners, auto, or watercraft policy coverage.

Umbrella insurance covers not just the policyholder, but also other members of their family or household.

Umbrella insurance coverage covers injury to others or damage to their possessions; it doesn’t protect the policyholder’s property.

Umbrella insurance is quite cheap compared to other types of insurance.