Like the foul weather gear it’s named after, umbrella insurance is something you carry just in case you need it: protection in the event a liability event or lawsuit goes beyond the coverage limits of your standard insurance policies, like home insurance or auto insurance. Since most liability coverage included in those policies usually only covers bodily injury and property damage to others, Umbrella Insurance can extend coverage to other exposures as well as to dollar amounts beyond the limits of your regular insurance.
Suppose someone is badly insured in your home, or you’re involved in a freak pile-up accident on the freeway: resulting lawsuits could seek damages far in excess of your regular policy liability limits. Such bad luck is unlikely, of course, but it happens to otherwise careful people every day. Umbrella Insurance is a very low-cost way to gain valuable peace of mind and protect your family’s assets.