What is personal umbrella insurance?
Personal umbrella insurance provides coverage beyond your homeowner or auto policy by adding an extra layer of liability coverage. Coverage is provided in amounts of $1,000,000 increments. Umbrella insurance also covers situations that may not be covered by another policy such as slander or libel.
The umbrella policy coverage “kicks in” where you’re existing coverage ends, up to limit of the umbrella policy purchased.
Personal Umbrella Protection covers:
- Operating most motor vehicles, including cars, RV’s, motorcycles, pickup trucks, and most watercraft
- Incidents involving any property covered by your basic homeowners policy.
- Incidents alleging slander, libel, defamation of character, invasion of privacy, even false arrest.
- Business liability coverage is provided if covered by your basic homeowners policy.
You’re ruled at fault in a car accident.
You’re sued and found liable for an amount well over the coverage included in your personal auto policy.
You leave your bonfire unattended and it damages a neighbor’s home.
The damage to their house is substantially more than the coverage available through the liability amount of your home policy.
A guest slips on ice outside of your home.
The pianist playing at your holiday party breaks her arm and is unable to work for six months. She sues for lost wages, but your home insurance doesn’t cover all of her expenses.