To really feel secure about protecting your assets and your future, you may need the extra level of protection provided by a personal umbrella liability insurance policy.
An umbrella policy provides additional layers of liability protection. If the liability limits are exhausted on your homeowner insurance, auto insurance, or other underlying insurance policy, your umbrella insurance policy takes over and provides you with additional protection. The cost is minimal compared to the comfort of knowing you're covered.
Imagine if your dog were to bite a neighbor's child. Or if there's an accident on your rental property. Or a fire in your condo spreads to other units. What would happen if you or a family member missed a stop sign and struck and killed a pedestrian? If any of these things happened to you, there's a good chance your current liability limits wouldn't be adequate to protect your assets — or your future earnings.
Once the liability limits are exhausted on your home insurance, auto insurance, or other policy, your umbrella policy takes over and provides a second layer of protection of at least $1,000,000. Higher limits may also be available.
An umbrella insurance policy also pays some claims not covered by your home, auto, or other underlying insurance. The policy covers not just you but your spouse and all family members living in your household anywhere in the world. Legal defense fees are also paid.