What is umbrella insurance, and why might you need it?
An umbrella policy is extra protection that can cover a pretty wide range of items. Whether you want to protect yourself from personal lawsuits or protect yourself if someone is injured on your property, considering an umbrella policy may be the right choice for you.
Umbrella policies can be helpful for those who own property and automobiles, own potentially dangerous things like pools and trampolines, and engage in activity where lawsuits are prevalent.
It acts as an “umbrella” of protection to help you and your assets and savings stay safe from the often-large expenses of lawsuits.
How is this different from liability insurance?
Liability coverage is a part of your existing policy on your home, car or other item that is insured. Liability coverage is often limited, depending on what is chosen on your policy. For example, many homeowners policies will include $300,000 of liability coverage, which may cover small claims, but it rarely covers a major lawsuit.
Want to learn more about umbrella coverage?Speak to an agent or broker to learn more about what you might need covered.