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Personal Umbrella Insurance Policies Explained

Like most people, you don’t just have insurance because you’re required to — you have it to keep you secure no matter what goes wrong. Even if you never have to use it, you feel comfortable knowing that it’s there. Having a personal umbrella insurance policy takes that important idea one step further.

Personal umbrella policies describe a type of insurance that works in addition to your primary homeowners insurance and auto insurance. With coverage limits that begin at a million dollars and go up from there, these policies are designed to take over if an incident exceeds the coverage limits of your primary insurance plan.

While these umbrella policies are incredibly important, people have questions about what exactly these policies do — and if they’re one of the people who NEEDS an umbrella policy! Read our blog to learn more about this added coverage and to receive a FREE quote to add umbrella insurance to your plan.

The Importance of Umbrella Liability Insurance

umbrella liability insurance

The liability insurance policies you hold for your home, car or additional properties are oftentimes enough for the vast majority of situations people encounter. However, certain circumstances, such as a serious accident, can actually exceed the limits on your standard auto or homeowners insurance policy. This can leave you facing a lawsuit the damages of which exceed your policy limits.

This is where umbrella liability insurance proves to be essential. In this case, the additional umbrella coverage covers you if any of those individual liabilities are exceeded by the damages. While any policy will depend on the specifics related to you, your family, your property, and countless other factors, as a ballpark figure, adding umbrella coverage to your policy can add between $150 and $400 per year to your insurance bill.

In addition to the supplemental coverage, umbrella liability insurance also provides you coverage in foreign countries. This can prove extremely critical if you cause a vehicle accident in a foreign country while on vacation.

Learn how to protect your home while on vacation.

Who Has the Greatest Need for Umbrella Insurance?

umbrella policy

Although we recommend personal umbrella insurance coverage to practically any homeowner, some individuals have a greater need for the added coverage. These are the traits that make an umbrella policy even more highly recommended:

  • If You’re a Business Owner — If you own a business and have more assets to go after in a potential lawsuit, umbrella coverage is crucial to protect the assets you’ve earned. See more business insurance gaps you need to know about.
  • If You’re a Frequent Traveler — Since foreign travel exceeds the limits of your conventional insurance, an umbrella policy is essential for frequent out-of-country travelers.
  • If You Have a Pool and Trampoline — Both of these items can result in serious injury which can exceed your homeowners insurance policy. We recommend personal umbrella liability insurance if you have these items at your home.
  • If You Own a Boat and Recreational Vehicle — While these objects can be added to personal property insurance plans, in order to have the maximum liability coverage we recommend adding an umbrella policy.
  • If You Own Properties — Once again, the more you have to lose from an unfortunate accident, the greater your need for umbrella insurance.

These are just some of the circumstances that make additional coverage important. If one or more of these describes your personal or financial situation, we highly recommend you consider adding umbrella liability insurance immediately. If you have any questions as to your particular insurance needs, the next step is to contact an Unruh Insurance agent.

Get Your Free Personal Umbrella Insurance Quote Today

umbrella liability insurance policy

The best coverage and the most complete protection starts with a personal umbrella liability insurance plan. Whether you’re a business owner who needs to protect the assets you’ve grown or you’re passionate about entertaining poolside, this coverage is crucial.

If you’re not sure if you have umbrella insurance or you’d like to learn more about adding it to your insurance plan, contact the agents of Unruh Insurance. We can walk you through your coverage and the maximum coverage available — and give you a FREE quote for any policy.

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