Many people are unsure what an umbrella policy is or what it covers. When you are outside, and there is a light rain or breeze, you generally don’t need or want an umbrella. However, if it is pouring down rain with high winds, you take your umbrella. An Umbrella Insurance policy works much the same way.
Umbrella Insurance provides extra protection or limits above the liability insurance you currently have. Just as an umbrella protects you from heavy rain, an Umbrella Insurance policy protects you from losing the entirety of your wealth and assets in the event of a claim. Umbrella Insurance can provide limits above your personal auto and home policies. Umbrella insurance is also competitively priced.
Umbrella insurance provides broad insurance beyond traditional home and auto. It provides additional liability coverage above the limits of homeowners, auto, and boat insurance policies. It can also provide coverage for claims that may be excluded by the primary policies.
When You May Need An Umbrella Policy
- Having rental property
- Owning a Boat, RV, or ATV
- Have a high net worth
- Owning a business
- Having teen drivers
- Own a swimming pool, trampoline, or swing-set