Personal umbrella insurance

Personal Umbrella Insurance

Your auto and homeowners policies have liability limits, and those limits might not be enough if you're involved in a serious accident or lawsuit. Personal umbrella insurance sits above your other policies and provides additional liability coverage when your primary insurance reaches its maximum. This extra layer of protection shields your assets and future earnings from being wiped out by a single catastrophic event.

Umbrella policies typically start at $1 million in coverage and can extend much higher. If you cause a multi-car accident on the Loop and someone is permanently injured, medical bills and legal judgments can easily exceed your auto policy limits. Your umbrella policy kicks in after your auto insurance maxes out, covering the remaining costs up to your umbrella limit. Without it, you could face wage garnishment, liens on your property, and long-term financial devastation.

The coverage extends beyond just auto accidents. If someone is seriously injured at your home, if your dog bites someone, or if you're sued for slander or defamation, your umbrella policy provides additional protection. The relatively low cost of umbrella coverage compared to the massive protection it provides makes it one of the smartest insurance purchases you can make, especially if you have assets worth protecting.

Umbrella insurance is particularly important if you have significant savings, own rental properties, have teenage drivers, own recreational vehicles, or face higher liability risks due to your profession or lifestyle. Most carriers require you to carry minimum liability limits on your underlying policies before they'll issue an umbrella policy, but those requirements ensure your base protection is solid. We'll help you assess your liability exposure and find umbrella coverage that provides the safety net you need at a price that makes sense for your situation.