Personal Umbrella Policies
Coverage for unexpected large losses
A personal umbrella policy may help provide personal liability coverage that may go above and beyond the amount that regular home or auto insurance offers. This is not a substitute for homeowner’s or car insurance but instead may help provide additional coverage in case of a large liability claim.
Talk to us today to learn more about how umbrella policies may protect your assets and lifestyle.
About umbrella policies
- Personal auto
- Homeowners
- Rental property/landlord policies
- Watercraft
- Motorcycle
- $1,000,000
- $5,000,000
- $10,000,000 and higher
More about umbrella policies
Some extra protection for that rainy day
An umbrella policy is a type of liability insurance that provides an additional layer of protection on top of your existing auto and homeowners policies.
Umbrella policies may also provide coverage on top of other policies that offer liability coverage, such as watercraft or motorcycle policies.
When you have an umbrella policy, it may cover liability damages in excess of the amounts covered by your auto or homeowners insurance. In the event that you are found to be liable for a certain incident, the umbrella policy may pay out settlements after your other policies are tapped.
What do umbrellas actually cover?
Your driving record is clean, and you pay your bills on time. You know you look good on paper, and you’re qualifying for a lot of discounts on your car insurance. But is there a way to save even more?
Using an app on your phone or a device that plugs in to your car, telematics programs help insurance companies learn more about you as a driver, calculating your premiums based on you drive.
Telematics programs typically offer discounts to drivers who don’t engage in risky driving behavior such as hard braking, hard accelerating or fast cornering.
Usage-based discounts help you only pay for what you use, helping low-mileage drivers save money. Drivers who work from home or have short commutes can realize big savings.
Parents of new or teenage drivers may also like the monitoring aspects of telematics programs, since they typically report back on driver behavior in real time.
Call us today and we can help you decide if a telematics program would be a good fit for you.
How to choose the right umbrella limits
The amount of umbrella liability coverage that’s appropriate for you depends on a variety of factors, including your assets, income, lifestyle, and potential liability exposures.
Many people choose umbrella limits that reflect the value of the assets they wish to help safeguard, while others consider factors such as owning a home, having teenage drivers, rental properties, recreational vehicles, or other situations that may increase liability exposure.
Our team can review your current policies and discuss available umbrella liability options to help you explore coverage that aligns with your insurance needs and budget.