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What is a Personal Umbrella Policy?

Personal umbrella policies are essentially insurance above and beyond other liability policies that you may have. Without this type of coverage you would have to pay out of pocket for losses that exceed your other policies limits.

What's Covered?

Umbrella policies extend the limits of other liability polices like a homeowners, renters or personal auto policy. Umbrella coverage applies to personal liability, not your own property or business related claims. For example if someone visits your home and falls seriously injuring themselves, your homeowners or renters policy will cover medical costs and damages up to the limit of the policy, if that is not enough then the umbrella will kick in to pay the excess up to the umbrella’s limit.

Who's it for?

Anyone could benefit from Umbrella coverage – it’s worth speaking with your agent to understand the potential benefits one may provide. Generally speaking, the more assets you have to protect the greater the need is for an umbrella policy.

Keep in Mind

Umbrella policies extend an existing underlying policy, so you cannot get an umbrella policy on it’s own.

Umbrella policies have limits too – typically ranging from $1-$5 million, keep in mind this limit is on top of the limits of the underlying policies.

They don’t cover everything – Umbrella policies do not extend coverage to your property or losses resulting from business activities.