In today’s litigious society, courtroom awards are growing larger and larger. A simple accident could result in you being held liable for damages not covered by your existing homeowner’s insurance policy. A personal liability umbrella insurance policy can give you additional liability protection without a large additional expense. A free consultation with our liability experts can guarantee that you have the right amount of liability coverage ready to cover what your existing policies cannot.
Umbrella policy is liability coverage over and above the coverage afforded by the regular/underlying policy and is sold in increments of one million dollars. The term “umbrella” is used because it covers liability claims from all policies underneath it, such as auto insurance and homeowners insurance policies. For example, if the insured carries an auto insurance policy with liability limits of $500,000 and a homeowner’s insurance policy with a limit of $300,000, then with a million-dollar umbrella, the insured’s limits become in effect, $1,500,000 on an auto liability claim and $1,300,000 on a homeowner’s liability claim.
Umbrella insurance provides broad insurance beyond traditional home and auto. It provides additional liability coverage above the limits of homeowner’s, auto, and boat insurance policies. It can also provide coverage for claims that may be excluded by the primary policies. These may include, but are not limited to: