How Personal Umbrella Insurance Works With Your Auto and Home

Personal umbrella insurance may add an extra layer of liability coverage beyond what your auto and home insurance policies provide. If you’re involved in a serious accident or face a lawsuit with damages exceeding your existing limits, an umbrella policy may help cover the excess. It’s designed to help with large claims that might otherwise lead to substantial financial loss.

Who Needs Personal Umbrella Insurance?

If you own a home, drive regularly, have a swimming pool or host guests frequently, you may want to consider umbrella insurance. Dog owners, landlords and anyone with significant assets or income at risk could also benefit. In a lawsuit, your savings, property and future wages can all be at stake; umbrella insurance is one way to keep those out of the equation.

What Does Personal Umbrella Insurance Cover?

Umbrella insurance usually kicks in when your auto or home policy limits aren’t enough to cover a serious claim. It may provide additional financial support in situations with significant legal or economic consequences. Standard policies include the following coverage:

• Bodily injury liability may help with medical costs and lawsuits if someone is injured in an accident for which you’re responsible.

• Property damage liability may cover damage to someone else’s property beyond your policy limits.

• Personal liability may apply to situations such as libel, slander, false arrest or invasion of privacy.

• Legal defense fees coverage may help cover attorney costs and court expenses, even if you’re not found liable.

• Worldwide coverage may follow you outside the United States, offering extended coverage while you travel.

Learn More

Liberty Professional Insurance Services LLC is here to help you explore how umbrella insurance fits into your overall financial plan. Contact us today.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.