How Personal Umbrella Insurance Fills Gaps in Your Policies

In today’s litigious society, having adequate insurance coverage is more critical than ever. While primary policies like homeowners, auto, and renters insurance offer financial protection, they often have coverage limits that may not be sufficient after a significant liability claim. Personal umbrella insurance may provide an extra layer of financial security.

Understanding Personal Umbrella Insurance

Personal umbrella insurance is a type of liability insurance that extends the coverage limits of your primary policies. It kicks in when the liability limits of your underlying policies are exhausted, offering additional protection against large claims or lawsuits.

This type of insurance is designed to cover a wide range of scenarios, including third-party bodily injury, property damage and personal injury.

Filling the Gaps

A key advantage of personal umbrella insurance is its capacity to bridge the gaps in your primary policies. For example, if you cause a serious car accident and related third-party bills exceed your auto liability limits, your umbrella policy may cover the additional costs.

Likewise, if someone gets injured on your property and the claim goes beyond your homeowners liability coverage, the umbrella policy can help cover the extra expenses.

Broader Coverage

In addition to extending coverage limits, personal umbrella insurance often offers broader coverage than primary policies. It can cover incidents that may not be included in your standard policies, such as libel, slander and defamation of character.

This makes it an invaluable asset for individuals at higher risk of lawsuits, such as business owners, landlords and public figures.

Affordable Peace of Mind

Despite its extensive coverage, personal umbrella insurance is relatively affordable. Premiums are generally low compared to the amount of protection provided, making it a cost-effective way to safeguard your assets and financial future.

Learn More

Personal umbrella insurance can be a crucial addition to your insurance portfolio. Filling gaps in your primary policies and offering broader coverage can help ensure you are well-protected against unforeseen events for which you’re responsible. Contact Trilogy Insurance Brokers, Inc. to discuss your umbrella insurance options.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.