Small Businesses Insurance Services
Liability Umbrella Insurance
Umbrella insurance is additional coverage that extends beyond the limitations and coverages of regular policies. Umbrella insurance can cover injuries, property damage, specific litigation, and personal liability scenarios.
Should I purchase an umbrella insurance policy?
You may want to think about umbrella insurance as an extra layer of protection for your assets. If someone sues you, your standard homeowners or auto policy will provide some liability coverage to pay for judgments against you and your attorney's fees–up to the limit set in your policy. However, you may want to have the extra coverage of umbrella insurance in case a judgment against you exceeds your policy limits.
Other reasons to consider umbrella insurance include certain activities and lifestyle risks that can attract the risk of someone suing you, such as:
- owning a swimming pool and having pool parties
- renting out a property you own
- having a dog or a teenage driver in the house
Since a personal umbrella policy goes into effect after the underlying policy coverage is exhausted, certain limits usually must be met to purchase umbrella coverage. Most insurers will want you to have at least $250,000 of liability insurance on your auto policy and $300,000 on your homeowners policy before selling you an umbrella liability policy for $1 million of additional coverage.
Please contact us for more information.
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