Umbrella Insurance is liability insurance for claims beyond the limits of the owner's regular homeowner's policy. An umbrella policy saves homeowners, auto owners, landlords, etc. from excess liabilities, helping to protect your assets gainst expensive lawsuits. An umbrella policy can cover liabilities not insured by other policies.
In addition to covering beyond the limits of auto, homeowner, renter, condo policies it can also include coverage for slander and other personal protections.
The umbrella insurance policy covers life or property damage beyond policy limits.
Injuries, medical costs and fatalities caused by a policy holder's vehicle, or occurring on their property or by an accident for which they may be held responsible.
Lawsuits filed by individuals for defamation is covered if such cases are filed against the insured.
One way to save on an umbrella policy is by raising the deductible. The deductible is the amount you pay before your insurance picks up coverage. Higher deductibles generally offer a lower rate.
By obtaining multiple insurance quotes, which you can do right here you can also find any discounts available by purchasing other policies at the same time from the same insurer.
Bundling, the practice of purchasing all your property insurances like auto, home owners/renters/condo and an umbrella policy from the same insurer can result in a significant savings.
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