The Basics About Umbrella Insurance Coverage

Family with Umbrella Insurance Coverage

You may have heard about term umbrella insurance, but do you know what it means? If not, you’re not alone! Umbrella insurance is a secondary form of insurance that provides extra liability coverage in addition to your primary policy coverage.

In a lawsuit, you could lose everything, including your assets, savings, and investments. Even if you have no assets, you can be held liable for damages, putting potential assets or future earnings at risk. Getting umbrella insurance coverage can help protect you and your future.

What Is Umbrella Insurance?

As a personal excess liability insurance policy or an umbrella liability insurance policy, umbrella insurance kicks in when your other policies are maxed out. Like an umbrella protects from getting wet when it’s raining outside, an umbrella insurance policy protects your assets in the event of a costly lawsuit. 

Umbrella coverage is a secondary type of liability insurance that protects you beyond the limits of your homeowners, car, or other insurance policies. It’s an economical way to protect your financial future and assets.

People smiling for their umbrella insurance coverage

What Does An Umbrella Insurance Policy Cover?

Umbrella insurance covers litigation from injury or property damage. It also protects you from associated legal costs if you get sued for damages to other people’s property or injuries. 

How Much Umbrella Insurance Should You Get?

Figuring out how much umbrella liability insurance to purchase is based on your individual situation. The best way to decide is to know how much you stand to lose in a costly lawsuit, as well as your net worth and assets.  

Is It Worth It To Get Umbrella Insurance?

Yes, especially if you don’t have enough insurance. Your minimum coverage may not be adequate in all possible situations. For example, let’s say your dog bites your neighbor, or your teenage daughter gets into an auto accident.

In these cases, umbrella insurance coverage protects you against expensive litigations. It can even protect you in cases of slander and libel – for example, if a restaurant decides to sue you for leaving a bad review. 

The premiums for umbrella insurance are surprisingly affordable for the amount of coverage that you get. 

The Easiest Way To Purchase Umbrella Insurance Coverage

You no longer need to call multiple insurance companies for an umbrella policy quote. InsureOne, does that work for you. Call  (800) 836-2240 to speak with an experienced representative who will provide you with the best umbrella insurance quote.