Why You May Need A Personal Umbrella Insurance Policy

Personal Insurance

Many people are unsure what an umbrella policy is or what it covers. When you are outside with a light rain or breeze, you generally don't need or want an umbrella. However, if rain with high winds is pouring down, you take your umbrella. An Umbrella Insurance policy works much the same way.

Umbrella Insurance provides extra protection or limits above your current liability insurance. Just as an umbrella protects you from heavy rain, an Umbrella Insurance policy protects you from losing all your wealth and assets in case of a claim. Umbrella Insurance can provide limits above your auto and home policies, and umbrella insurance is competitively priced. 

Umbrella insurance provides comprehensive insurance beyond traditional home and auto. It provides additional liability coverage above the limits of homeowners, car, and boat insurance policies. It can also provide coverage for claims that the primary policies may exclude.

When You May Need An Umbrella Policy

• Having rental property
• Owning a Boat, RV, or ATV
• Have a high net worth
• Owning a business
• Having teen drivers
• Own a swimming pool, trampoline, or swing-set

It's important to note that while an umbrella policy provides additional coverage, it is not a standalone policy. To qualify for an umbrella policy, you must meet certain minimum liability limits on your primary policies, such as auto and home insurance. It's advisable to consult with an insurance professional to understand your specific needs and determine the appropriate coverage amount for your personal umbrella policy.