Umbrella insurance is a form of liability insurance, therefore it does not cover:
- Your own medical expenses.
- Losses to your property.
However, what exactly is covered by your umbrella policy depends on how you decide to set it up. In most cases, umbrella insurance protects you from:
- Injuries you cause in a car accident
- Injuries someone suffers on your property
- Property damage you cause in an accident
- Property damage your pet causes
- Property damage a dependent or child causes
- Attorney fees and other legal costs if you’re sued
Yes, your existing insurance may protect you to an extent, but an umbrella policy goes much further for less cost than upping the limits on your existing policy because it covers different types of risks. Umbrella insurance is also portable, in most cases; so it can follow you when and wherever you travel―even overseas.
Since the terms of umbrella insurance policies will vary, depending on insurance companies, and your own personal needs, a qualified insurance agent from our firm is the best person with whom to discuss the benefits, restrictions, and coverage from each carrier they represent.