Should I Purchase an Umbrella Liability Policy?

Umbrella Liability Policy

If you are ever sued, your standard homeowners or auto policy will provide you with some liability coverage, paying for judgements against you and your attorney’s fees, up to a limit set in the policy. However, in our litigious society, you may want to have an extra layer of liability protection. That’s what a personal umbrella liability policy provides.

An umbrella policy kicks in when you reach the limit on the underlying liability coverage in a homeowners, renters, condo or auto policy. It will also cover you for things such as libel and slander.

Depending on which carrier you choose, for about $300.00 to $500.00 per year you can buy a $1 million personal umbrella liability policy. The next million will cost about $125.00 to $150.00, and approximately $100.00 to $125.00 for every million after that.

Because the personal umbrella policy goes into effect after the underlying coverage is exhausted, there are certain limits that usually must be met in order to purchase this coverage. Most insurers will want you to have about $250,000 of liability insurance on your auto policy and $300,000 of liability insurance on your homeowners policy before selling you an umbrella liability policy for $1 million of additional coverage.

For a free instant quote, please complete the information in the Quick Quote box at the top of this page, or to speak to one of our licensed & experienced agents, give us a call at 949-833-2030.  We’ll be happy to find you the coverage that best fits your needs!