Protect your financial future with umbrella insurance if coverage costs exceed your limits during a claim.
Additional coverage for an extra layer of protection.
Umbrella insurance has an unusual name, but it’s a simple concept—it’s an extra liability policy for added peace of mind. Most commonly, this type of coverage is something you get in addition to either an auto insurance or home insurance policy, as well as watercraft insurance.
Focuses primarily on liability claims.
This type of coverage is specifically about liability, which is the cost you might have to pay to somebody else for an unfortunate event where you are held responsible. It doesn’t usually include losses you bear yourself, such as if your property is damaged or your possessions are stolen.
Pays out when liability coverage limits are not enough.
You’d usually get umbrella insurance when your main insurance policy has liability coverage limits that are too low for your needs. The policy will only pay out when your main policy has already paid out in full, and it will only pay out the remainder of your costs.
How does umbrella insurance work?
For example, if your auto policy covers liability up to $500,000 but you cause an accident that leaves the other driver with medical bills of $600,000, your main policy will pay out in full, and the umbrella policy will kick in for the remaining $100,000.
