What are they, and should you have one?

Personal umbrella policies have grown in popularity, but they aren’t necessary for everyone.

An umbrella policy protects you against a catastrophic liability loss. For example, a major car accident that injures many people or that causes permanent impairment or death may result in liability beyond what a typical automobile policy covers. An umbrella policy sits atop auto and/or homeowner policies to provide higher limits of protection. They often also cover some losses that are not covered by the underlying policies.

You should consider umbrella insurance if you:

  • Have assets in excess of your underlying liability limits.
  • Are financially responsible for an inexperienced driver.
  • Live in an affluent neighborhood.
  • Have a dog or other pets that could cause injury.
  • Engage in activities that put you at risk of a lawsuit, such as coaching children.
  • Have a high-profile career or high income.
  • Frequently host guests on your property.
  • Have a swimming pool or trampoline on your property.
  • Own waterfront property, a farm or ranch.
  • Own watercraft, aircraft or off-road vehicles.
  • Travel extensively internationally for pleasure.

Previously, people thought umbrella policies were only for the wealthy, but today, many middle-income families choose to add this extra layer of protection. It’s especially attractive because of its relatively low cost.

If you are concerned that your auto and homeowner policies don’t offer the protection you and your family need, contact us to set up a time to talk with one of our representatives.


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