Umbrella coverage is a unique and often optional way to extend your existing insurance beyond the policy limits without having to renegotiate the policy itself. The reason it is used is to extend the limits of multiple policies at once, consolidating the coverage extension behind a policy that only kicks in if it is needed because another more basic form of coverage hits its limit. When it comes to personal umbrella insurance, this typically means combining home and auto coverage, as well as any coverage for vacation properties or recreational vehicles.

Cost Effective Coverage for Your Household

Umbrella policies are often less expensive than increasing the limits for just one type of insurane, let alone all of them. That is not always the case, though. The simpler your insurance needs, the more likely you are to be able to purchase adequate coverage that exceeds your possible losses. When you add additional policies for new assets, that becomes harder and harder to guarantee, especially if they are placed on a shared policy with a shared limit. Adding an umbrella insurance policy adds a minimum of $1 million in extra coverage for just a few dollars each month. If you’re managing at least one comprehensive vehicle policy and homeowner’s coverage, you could probably benefit from checking out a quote for personal umbrella coverage.

Do You Need Personal Umbrella Coverage?