Basically, Umbrella Insurance policies protect you from liability issues that go beyond the liability limits of standard insurance policies, such as your auto insurance, homeowners insurance, renters insurance, etc. This type of additional policy protects you if/when you exceed the liability coverage limits on a personal insurance line.
Most liability coverage that rests within your current insurance policies only covers bodily injury and property damage to others. Umbrella policies will extend those limits to not only provide additional coverage for bodily injury and property damage, but also to cover things that are not listed under regular liability allowances.
Every policy is different, so what is considered a covered liability issue under one insurance line may not be covered on another insurance line. Umbrella Insurance kicks in when these situations present themselves and/or you exceed the amount of liability coverage for the events that are already allowed under your regular insurance policies.
What would happen if you were sued by your landscape company who claimed that because of a loose fence post two of their workers were injured and your homeowners policy only covered a portion of their bills? Even though these kinds of things may not happen often, you may find that the low additional cost is worth it for a greater peace of mind.
Let’s take a look and pinpoint your policy needs.