Personal Umbrella Insurance
Personal umbrella insurance adds extra liability protection to your current insurance policy. While an umbrella policy doesn’t cover your personal belongings, it does help pay for property damage and bodily injuries to others if you or someone in your household are at fault. Most major companies offer umbrella insurance, making it easy to find cheap umbrella coverage.
Free Car Insurance Comparison
Secured with SHA-256 Encryption
UPDATED: Jul 19, 2021
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We partner with top insurance providers. This doesn’t influence our content. Our opinions are our own.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
- Personal umbrella insurance offers additional liability coverage
- Umbrella insurance covers yourself and members of your household
- An umbrella insurance policy doesn’t cover your own property or injuries
Personal umbrella insurance is an add-on to your home or liability auto insurance. This helps protect you from damages that are greater than your policy limits will cover.
Before you buy personal umbrella insurance, shop around to see who can offer you the best rates.
Enter your ZIP code now to compare personal umbrella insurance quotes from multiple companies near you.
What is umbrella insurance?
Personal umbrella insurance is an additional amount of liability coverage that you can add to your homeowner’s or auto insurance in case your standard coverage limits aren’t enough.
For example, your liability auto insurance has limits to the amount the insurance company will payout for property damage and bodily injury. If the damages you caused in an accident exceed those limits, you can be sued to cover the rest personally.
Let’s say your car slides into a couple of parked cars during a rainstorm. The accident causes $50,000 in damages, but your auto insurance has a $25,000 limit. You would be held responsible for the remaining $25,000.
You could also face the same problem if you cause bodily injuries. Medical care is expensive, and you can exhaust your insurance limits quickly.
This is where an umbrella policy would come in. But, just what is an umbrella policy?
Think of it as a large bucket that allows you to use the money as needed. You could use it to pay for property damage or bodily injury in an accident, among other things.
This type of coverage is a good idea for just about anyone, especially if you are at risk of being sued. This includes drivers, parents, homeowners, and pretty much everyone.
It’s important to note that personal umbrella insurance isn’t the same thing as excess liability insurance. Excess liability insurance only extends specific limits on the coverage you already have. An umbrella policy will offer more general liability coverage for you and members of your household.
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What does a personal umbrella insurance policy cover?
As an addition to your standard insurance policy, a personal umbrella policy will offer you access to coverage for certain damages.
An umbrella policy will cover:
- Bodily injury
- Property damage
- Personal injury
- Landlord liability
However, umbrella insurance won’t cover:
- Your personal damages
- Personal belongings
- Personal or business contracts
- Intentional damage or criminal actions
Personal umbrella insurance really isn’t that expensive. According to the Insurance Information Institute, you can expect to pay between $15-$300 a year for $1 million in liability coverage.
Most insurance companies will require that you already have in place an auto or home liability policy in a certain amount before they will extend an umbrella policy.
Although there really isn’t a specific personal umbrella insurance company, the good news is that most larger insurers offer the coverage. In most cases, you can simply add the coverage to your existing insurance policy.
This also makes it easier to find affordable personal umbrella insurance. Shop around and compare quotes from different companies to see you can offer you the cheapest coverage.
Enter your ZIP code now to receive personal umbrella insurance rates from companies in your area for free.