Don’t let a lack of insurance be your rainy day.
When liability limits have been reached on your home, auto, or other underlying insurance policies, your Umbrella Insurance policy takes over with additional coverage. Add an extra layer of protection for as little as $12 a month.
Umbrella Insurance
Don't let a lack of insurance be your rainy day.
When liability limits have been reached on your home, auto, or other underlying insurance policies, your Umbrella Insurance policy takes over with additional coverage. Add an extra layer of protection for as little as $12 a month.
Insurance advice you can trust.
Guided Solutions was created by entrepreneurial insurance experts to better serve and educate everyone about the importance of good coverage. We’re passionate about helping our customers make the right insurance decisions so that, no matter what life throws their way, they can stress less and live more knowing they’re well protected.
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Stop wasting time comparing Umbrella Insurance online. We’ll work that out for you.
First, we compare Umbrella Insurance from major and local carriers. Then we present you with the best options – same day, free of charge.
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Here’s what you need to know about Umbrella Insurance.
Umbrella Insurance provides additional layers of liability protection, paying out if you’re at fault for injuries or damage and your other policies aren’t sufficient to cover the costs. Umbrella Insurance covers the policyholder and his/her spouse, plus all family members living in the household, anywhere in the world.
Check out the top 4 FAQs we get asked about Umbrella Insurance. Have questions that aren’t not listed? Contact us.
What is Umbrella Insurance?
Suppose you’re sued for damages that exceed the liability limits of your car insurance, homeowners insurance, watercraft/boat insurance or other insurance policies. In that case, an Umbrella policy helps pay what you owe. Umbrella Insurance even covers certain liability claims, such as libel, slander, and false imprisonment. Legal fees are also paid under Umbrella policies.
Is Umbrella Insurance required?
Umbrella Insurance isn't required by law. It is often purchased by people who prefer an additional layer of protection for their assets and/or who have a higher chance of being sued.
How much Umbrella Insurance do you need?
Umbrella Insurance policy limits start at $1 million and can go as high as $10 million. Your insurance advisor can help you decide how much coverage is right for you.
How are Umbrella Insurance rates determined?
Umbrella Insurance is relatively inexpensive compared to other types of insurance. Policies usually cost between $150 and $300 annually. Since Personal Umbrella Insurance varies depending on your individual coverage needs, it’s important to discuss your options with an insurance advisor.
Types of Umbrella Insurance
There are many different options for Umbrella Insurance coverage; let’s look at the most common examples and what they cover.
Bodily Injury Liability
This insurance covers liability claims and medical bills if you're found at fault for an accident that causes bodily injury to another person while on your property.
Property Damage Liability
Damage or loss of another person’s tangible property are covered through this option. An example would be the cost of damage to vehicles or other property due to an auto accident where you are liable or at fault.
Owners of Rental Units
Protects landlords against any liability claims you may face. Examples include a person being injured by tripping on an uneven sidewalk of your rental property or your tenant’s dog biting someone.
Slander, Libel, and Legal Fees
Slander and libel are defamatory statements that are either spoken or written. False arrest, detention or imprisonment, malicious prosecution, and shock/mental anguish are can also be covered.
Umbrella Liability vs. Excess Liability
It is important to understand that umbrella liability is not the same as excess liability. Umbrella Insurance can be applied even when no other insurance policy is in place. Excess liability only covers the damages exceeding the coverage of a primary insurance policy.
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