Umbrella Insurance

Coverage for the unexpected.

What does an umbrella policy cover?

The umbrella policy is a personal catastrophe policy covering you and your family’s liability against the ever-increasing jury awards that may be leveled against you. This policy provides additional liability limits to your Homeowners, Condominium or Renter’s policy and Automobile policy of at least $1,000,000. Additional coverage up to $5,000,000 is available. It may also provide coverage that may be excluded in your existing policies. When considering umbrella coverage, it’s important to think of your future income and assets, as well as what you own now. Now is the time to build a second line of defense to protect you and your family when your other policies stop.

You have more to protect than you may think.

You may be assuming that if you don't have $1 million to lose, you don't need an umbrella policy. Unfortunately, if you are sued by someone who falls down the stairs at your home or whom you injure in a car accident, you can be sued for more than just what you have in the bank.

Your retirement funds, investments, savings and even your future earnings are at risk if a judge allows someone to garnish your wages to pay off a settlement. In some states, the equity in your home can be part of the judgment and you would be forced to sell your home to pay someone who sues you. If you own a house and have a retirement account or other investments, an umbrella policy of $1 million or more should be part of your financial plan.