Umbrella insurance is an extra level of protection that can be added to your other general liability or homeowners insurance policies. Umbrella insurance provides coverage for claims over the limit on your policy’s underlying liability insurances, such as personal liability, bodily injury, and property damage.
Many policies are limited in what they cover below the policy’s self-insured amount or specific deductible. For example, if your family car were vandalized while parked on a college campus, your homeowner’s policy would not be liable to pay for damages or repairs under its property damage clause. But your umbrella insurance could cover this claim.
Additionally, if your family owns a large number of assets, umbrella insurance is an affordable way to protect you from high-cost lawsuits. Umbrella insurance can also cover claims related to professional errors and omissions, false arrest, libel, slander, and invasion of privacy.
Because umbrella insurance is so affordable, we recommend most families have at least minimum coverage, but depending on your assets your family might benefit from a stronger policy. To find out more, contact us for a free consultation and let’s find out which policy is best for you.
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