Of course, you don’t need to insure your umbrella. But as an umbrella keeps off the rain, umbrella insurance helps keep off lawsuits from any liability claim once your policy is exhausted. How I like to explain it is that you can stuff as many policies with liability under an umbrella (auto, home, boat, etc.) to shield you from the suit. If you own a business it can add another layer of protection there as well. If you’ve got a lot to lose, this kind of coverage may be the most affordable way to protect yourself. See below what else it may cover for you. It’s a lot of coverage for very little money.
Extra Liability Insurance
Liability limits on typical home and auto policies are fairly modest when compared to the value of new homes and cars. Clients can purchase umbrella insurance in increments for the right amount of extra protection at the right price.
You have a legal right to defend yourself against claims of injury or loss, but lawyers are expensive. Not only will umbrella insurance help you pay claims, it can help pay for legal defense.
Some umbrella insurance policies can get modified to cover more unusual risks that are not typically mentioned in an ordinary policy.
Do you have a house, retirement fund, and other assets that could be vulnerable to a liability claim? If so, contact us at your earliest convenience to discuss the reasons you need umbrella insurance.