A personal umbrella policy from Atlas can provide an extra layer of protection beyond your existing homeowners and auto insurance policies. If the value of your possessions and assets exceed the limits of your basic insurance plan, you should consider a personal umbrella insurance policy for you and your family.
What Is Personal Umbrella Insurance?
A personal umbrella insurance policy gives you additional liability protection above and beyond what your home, auto, boat, and/or other policies would provide. Umbrella and Excess Liability insurance policies are designed to be additional layers of coverage above primary insurance policies.
In the event of a liability loss, a personal umbrella policy is a great way to protect yourself from a lawsuit that can impact your current assets and your future earnings as well.
What Do Personal Umbrella Insurance Policies Cover?
Personal umbrella insurance policies from Atlas can cover you if:
- You are found liable and the costs exceed your coverage
- You are found liable for medical costs for another party that exceed your basic liability coverage limits
It also provides several liability protections including:
- Auto bodily injury liability: This helps cover a person’s medical treatment costs if they are injured in a car accident. This coverage steps in when you exhaust your auto liability limit.
- Bodily injury liability: This can help cover another person’s medical bills. If someone gets hurt and sues you, this coverage protects you once your liability limit has been exhausted.
- Landlord insurance: This coverage helps protect you if someone gets hurt at your rental property and sues you. This coverage helps once your underlying liability limit has been exhausted.
- Property damage liability: This helps pay for damage to another person’s property or vehicle. Coverage will take effect when your underlying liability limit has been exhausted.
How Much Does Personal Umbrella Insurance Cost?
Personal umbrella insurance adds an extra layer of protection to basic plans that may not have sufficient limits in certain circumstances. The cost depends on how much liability coverage you need and other rating factors for your unique situation. Our agents can help you determine the proper amount of coverage For you and your family.
To figure out the amount of umbrella insurance coverage you need:
- Estimate the total value of all your assets. Then, look at your net worth and add in the total amount of your savings, stocks, and retirement.
- Review your homeowners and car insurance policies to make sure there’s enough coverage to protect your assets in the event of a big loss.
- Think about other items you own, including an RV, ATV/dirtbikes, or valuable collectibles. Make sure you have enough coverage to protect these things if there’s a loss.