Is it Time for an Umbrella Policy?

Sep 15

Increasing the personal liability coverage limits on your auto and homeowners insurance as your income grows is a smart move. But there are limits to how much personal liability insurers will cover as a part of these asset-specific policies. That’s where an umbrella policy comes in.

This type of policy protects your current assets and your future income against financial claims for injury brought against the policyholder – and their family or household members. It isn’t a standalone policy; it provides excess coverage in addition to other existing policies, and only kicks in when the underlying policy limits are exhausted. Because of this, it can be more affordable than you think.

Umbrella policies can be flexible and can be written to include many types of coverage, which makes them uniquely useful for modern, active, online lives.

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