Umbrella coverage supplements your other policies, such as auto, home or renters insurance. An umbrella policy covers a much higher limit and goes above and beyond claims directly relating to your home and auto. The main purpose of an umbrella policy is to protect your assets from an unforeseen event where you are held responsible for damages.
There are often liability requirements for existing policies on the primary home and auto to warrant umbrella coverage.
Adding an umbrella plan to your insurance package is an excellent way to make sure your assets are protected in the event of a larger liability claim. The amount of coverage provided compared to the premium charged make these plans a smart option for almost anyone.
General Insurance Services has carriers that will write umbrella policies to add to your home and auto package. We can also offer standalone umbrella policies. Several of our carriers will discount home and auto policies when you add an umbrella plan. Talk to one of our account executives for examples of how umbrella policies have prevented serious financial loss in everyday situations.
Liability coverage of $1 million is the starting point for an umbrella policy. For this level of protection, the premium is usually minimal. Factors impacting the premium include the number of vehicles, number and age of drivers, number of properties, or additional items such as watercraft or RV's.