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Umbrella Insurance


Umbrella Insurance

Personal umbrella insurance is not just for the wealthy. These days, it’s needed protection for many policyholders. Umbrella insurance is a policy that substantially extends your protection above and beyond the limits of your homeowner’s, auto, and watercraft personal insurance policies to protect your financial assets in the event of a lawsuit resulting from a liability claim. The standard umbrella policy is issued with a limit of $1,000,000, but higher limits are available.


An Extra Layer of Protection

Most people assume that their auto and home insurance will provide all the liability coverage they need. This isn’t always true. Personal liability umbrella insurance gives you an extra layer of insurance protection. This can be critical if someone is injured in an auto accident or in an accident in your home or on your property.

You should consider the value of your home, other significant assets, and the value of any investment portfolios or retirement savings accounts. Once you add the value of all of these items, determine how much liability coverage you have from your home and auto policies. Do your current policies cover your assets? In many cases, the answer is no. If you don’t have adequate coverage, it may be time to consider an umbrella policy.