Umbrella Coverage Quote Forms
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Umbrella Coverage Information
Personal Umbrella Insurance
Standard personal insurance policies, such as homeowners, renters or auto insurance, usually limit liability coverage. This means a large liability claim could exceed your policy limits, making you responsible for covering the remaining costs out-of-pocket. Personal umbrella insurance may provide additional protection to help fill in that gap.
Skyman Insurance Group can help you secure the right umbrella insurance policy for your needs. Contact us today for more information.
What Is Personal Umbrella Insurance?
Personal umbrella insurance may supplement your existing liability coverage (e.g., homeowners insurance, auto insurance, renters insurance or watercraft insurance). If you are responsible for the property damage or bodily injuries of others, you may be required to pay for their losses (e.g., medical bills). Your existing liability coverage may help pay for these expenses, but most standard policies have limits. If a significant claim exceeds those limits, an umbrella policy could help pay the remaining amount.
For instance, if a visitor falls on your front steps and sues you for $800,000 in damages, you may be able to file a claim against your homeowners liability insurance. However, if your homeowners policy has a $500,000 limit, that could be a $300,000 gap in coverage. Umbrella insurance could cover the amount above your standard policy’s limit. This can help protect your personal assets from being used to settle the claim.
Additionally, umbrella insurance may provide coverage in areas where your other liability policies do not. For example, an umbrella policy may cover personal injury claims such as libel or slander. Your Skyman Insurance Group agent can provide additional information regarding benefits, options and exclusions.
What Does Personal Umbrella Insurance Cost?
Most umbrella policies are relatively affordable for the coverage you receive. Factors that may affect the premium include your policy value and your personal risk profile. The team at Skyman Insurance Group can work with you to ensure you’re getting the right coverages at the best value. Contact us today for more information.