Personal Umbrella Insurance Explained

September 12, 2023

personal umbrella liability policyA neighbor trips and falls at your house. Your dog bites a person walking down the sidewalk out front. Your teen gets into a bad car accident. A friend crashes into a dock water skiing behind your boat.

Even if these disasters don’t happen, you worry about them. And think to yourself, “OMG, I hope I don’t get sued!”

But disasters happen. And they can happen to anyone.

That’s why we recommend high limits of liability on your personal insurance policies.

But what if you could get an extra layer of protection that gave you peace of mind. You could go about your daily life without constantly worrying about potential lawsuits or the risk of exhausting your primary insurance limits.

Personal umbrella insurance, sometimes referred to as excess liability insurance, is a policy designed to protect you over and above your primary policies.

It kicks in when the limits of your existing homeowners, auto, or boat insurance policies are exhausted. This extra layer of protection can be a financial lifesaver, especially when dealing with significant liability claims.

Here’s What You Get with a Personal Umbrella Insurance Policy

Liability Protection
The primary purpose of personal umbrella insurance is to provide additional liability coverage. It covers various liability claims, including bodily injury, property damage, and even personal liability situations like defamation or invasion of privacy.

For instance, if you’re found liable for a car accident that causes severe injuries and the damages exceed your auto insurance limits, your umbrella policy will cover the remaining costs.

Legal Defense Costs
Personal umbrella insurance also covers legal defense costs. In the event of a lawsuit, it can pay for your attorney fees, court expenses, and settlements or judgments, saving you from potentially ruinous legal bills.

Worldwide Coverage
Most umbrella policies offer worldwide coverage, which means you’re protected not only in your home country but also when traveling internationally.

The upshot: Without an umbrella policy, a sizable lawsuit could put your financial security at risk.

Personal Umbrella Insurance is Affordable, Comprehensive, and Easy to Obtain

Personal umbrella insurance is remarkably affordable considering the substantial coverage it provides, making it a cost-effective investment in your financial security.

Comprehensive Coverage
Umbrella policies offer comprehensive protection that extends to various aspects of your life. Whether you’re dealing with a car accident, a slip-and-fall incident on your property, or a social media-related defamation claim, your umbrella policy has you covered.

Easy to Obtain
Obtaining a personal umbrella policy is a straightforward process, typically requiring you to have underlying primary insurance policies in place, such as auto or homeowners insurance.

Personal umbrella insurance is a vital safety net that offers comprehensive coverage and peace of mind. It serves as a financial shield, protecting your assets and future earnings from the devastating impact of liability claims.

Considering its affordability, personal umbrella insurance is a smart investment in your financial security, ensuring you’re prepared for life’s unexpected curve balls.

So, don’t wait until it’s too late—call us and explore the benefits of adding a personal umbrella policy to your insurance portfolio today.

Until next time,

Your SZW Team

SZW Insurance is your Utica area Trusted Choice™ independent insurance agent. Call us for a quote on insurance for your home, car, business, or life at 315.792.0000. Or request a quote here.