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Umbrella policies are a form of liability insurance intended to keep policyholders from experiencing significant financial hardship. They are designed to be bought as secondary coverage, supplementing a vehicle or home insurance policy. When you carry umbrella coverage, it will only kick in once the liability limits of your primary policy have been exhausted. To determine if you need umbrella insurance to ensure you’re adequately protected against liability claims, you must first understand what these policies cover.

Umbrella Policy Coverage Basics

What’s Covered By Umbrella Insurance?

Umbrella policies extend the liability portion of your primary coverage. This can prevent you from having to pay out-of-pocket should you cause another person bodily injury or property damage that exceeds your regular liability limits.

This means you will have additional liability insurance to pay any remaining balance you owe in damages after your insurance company has already paid out the coverage limit from your vehicle or home insurance policy. Umbrella policies typically cover at-fault traffic accidents, slip and falls, dog bites, accusations of libel, slander and defamation, court-ordered monetary awards, and legal fees. 

What’s Excluded? 

While umbrella liability insurance policies cover numerous things, there are some exclusions. They won’t cover any damage you or someone else cause to your property, business losses, intentional criminal acts, exotic recreational vehicles, contract disputes, or injuries to people who have a contractual agreement to work on your property. 

 

Numerous everyday risks can cause an exceptional financial burden if you don’t have the right insurance coverage in place. Most people can benefit from the added layer of protection umbrella policies provide. The professionals at Consolidated Agency will help assess your liability insurance needs to ensure you don’t have any gaps in coverage. Having served the Rochester, NY, community since 1988, the company has established a solid reputation for guiding clients smoothly through the shopping process and finding them the most suitable products at the best prices. Call (585) 467-4110 to request a quote, or visit them online to learn more.

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