What is Umbrella Insurance?
Umbrella insurance provides insurance coverage much like an umbrella provides extended coverage from the rain! Umbrella insurance is like “extra” coverage. It can kick in after a primary insurance policy has paid up to its limits, and/or it can be used as a primary form of insurance, protecting other things outside of what a primary form of insurance could cover. Umbrella insurance refers to extra liability insurance, in excess of other insurance policies and it can also serve as primary insurance for any losses that are not covered by other policies.This is how Umbrella Insurance acts like an umbrella!
What does Umbrella Insurance cover?
Most liability coverage within current insurance policies covers basic limits of bodily and property damage. With limits on your home or auto insurance; for example, your policy can only provide so much protection. Every policy is different so reviewing your insurance coverage with your agent is a great first step when considering Umbrella Insurance.
Who should purchase Umbrella Insurance?
Everyone is a great candidate for an Umbrella Insurance policy but most people don’t think they need any “extra” coverage. With lawsuits lurking around every corner due to an unexpected incident, it’s a possibility that everyone must consider and be aware of. Or what if your home had a fire and your prized collection was inside?
The good news:
A personal liability Umbrella Insurance policy can give the added protection without an over-sized added cost. Not only are savings a great bonus, but we make it easy to understand the terms of your standard policies so that shopping for the extra coverage of an umbrella insurance policy is an easy and beneficial process for you.