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Personal Umbrella

What is Umbrella Insurance?

Umbrella insurance is extra liability insurance designed to protect you from major claims and lawsuits to your financial future.

Provides additional liability coverage above the limits of your homeowners, auto, and boat insurance policies. This protection is designed to kick in when the liability on these other policies has been exhausted.

Provides coverage for claims that may be excluded by other liability policies including false arrest, libel, slander, and liability coverage on rental units you own.

What Does Umbrella Insurance Cover?

Umbrella insurance provides extra liability coverage for injuries, damage to property, specific lawsuits, and other personal liability scenarios described below. Think of an umbrella that covers all of your other types of insurance.

Types of Umbrella Policies and How They Protect You

  • Bodily Injury Liability
    This type of policy covers expenses for another person’s bodily injuries. These expenses can include medical bills, serious auto accidents that are your fault, harm caused by your dog, falls in your home, or other injuries occurring on your home (i.e. a neighbor’s child falls on your property).
  • Property Damage Liability
    This type of policy covers expenses for another person’s personal tangible property. This can include damage to other vehicles you caused or damage caused by your pet or child.
  • Owners of Rental Units
    This type of policy protects landlords against liabilities occurring on their rental. This can include tripping over a crack in the sidewalk or a tenant’s pet biting someone (which may make you liable).
  • Other

    Umbrella policies may also cover:

    • Slander
    • Libel
    • False arrest
    • Detention
    • Imprisonment
    • Malicious persecution
    • Shock/mental anguish
    • Many other personal liability situations

Who Needs Personal Umbrella Coverage?

A common misconception is that only the wealthy need umbrella insurance. In actuality, everyone needs umbrella insurance.

If you own a home or engage in higher risk activities (i.e. motorcycle, ATV, RV, and boats) you may need an umbrella policy for additional protection.

Here’s an example of why you may need an umbrella policy and how it is used to protect you.

You cause an accident that causes $1,000,000 of damage to someone else. Your auto policy covers Bodily Injury of $300,000. Who covers the rest of the $700,000 liability? If you had umbrella insurance at the time of your accident, this $700,000 liability would be covered. If you did not have this policy you would be liable for $700,000!

In the event of any type of loss (home, auto, boat, etc.) that insurance would be used first. Then, the Personal Umbrella policy provides an extra layer of protection! This gives you and your family more peace of mind about your future.