What is Umbrella Insurance?
- Umbrella insurance gives you a layer of additional liability coverage, above the limits of your homeowners, renters, auto and other policies.
When might I need Umbrella Insurance?
- The liability portion of a typical auto insurance policy, for example, covers claims up to $500,000. But if you or one of your family members causes a serious or fatal accident, the costs can easily run into the millions. If you are sued, the umbrella policy covers the settlement, plus attorneys' and court fees.
- If someone injures themselves on your property they could potentially sue you for damages past what your homeowners policy would cover you for.