Umbrella Insurance

Umbrella insurance, also known as personal umbrella insurance, is a type of liability insurance that provides additional coverage above and beyond the limits of other liability policies, such as auto or homeowners insurance. It is designed to protect an individual's assets in the event that they are sued for damages or injuries resulting from an accident or incident.

 

Umbrella insurance is typically used to provide extra protection in situations where the policyholder has a high level of liability exposure. For example, if someone owns multiple properties, has a high net worth, or engages in activities that carry a high risk of liability (such as owning a swimming pool or hosting large events), they may want to consider purchasing umbrella insurance to provide additional protection for their assets.

 

Umbrella insurance policies typically provide coverage for a wide range of liabilities, including personal injury, property damage, and defamation. They may also cover legal fees and other costs associated with defending against a lawsuit.

 

Umbrella insurance is generally considered an optional coverage, and policyholders can choose to purchase it in addition to their other liability policies.