Umbrella Insurance

What Is Umbrella Insurance, And What Does It Cover?

Umbrella insurance offers protection above and beyond the terms and conditions of other policies. This is the go-to insurance plan when you exhaust your other specific insurance plans. The umbrella plan can cover injuries, property damage, specific litigation, and personal liability issues.

Umbrella insurance offers coverage for claims such as false arrest, libel, slander, and liability coverage on your rental properties that other liability policies may exclude. Also, when the coverage limits of your homeowner’s, auto, and boat insurance policies are reached, umbrella insurance may still offer coverage.

Standard homeowners, vehicle, or watercraft insurance is required before purchasing umbrella insurance because the latter only becomes effective when the former has been exhausted.

Buyers typically possess expensive real estate or have sizable savings. Alternatively, they might possess dangerous items (swimming pools, trampolines, dogs, etc.). Or they might do things that make them more likely to file a lawsuit, like:

• Being a landlord
• Volunteering
• Writing product and company reviews regularly
• Playing a sport where you could easily hurt others (skiing, surfing, hunting, etc.)
• Being a board member of a nonprofit

Not only the wealthy or the people listed above can use umbrella insurance. Whether you own a car or a home, rent an apartment, or are a renter, umbrella insurance provides additional coverage to protect your assets from the costs of legal action and large judgments. You might also want additional protection if you own an ATV, RV, boat, or motorcycle. Reach out to us and find out if you require umbrella insurance.