- In some cases, an umbrella my pick up damages not covered under your primary polices
- Umbrella policies provide a higher level of coverage.
- Defense coverage associated with attorney fees and related legal costs.
- If you have any assists like a home, 401K or other investments, these can be at risk in the event of an auto accident or some other action.
- Coverage can include your boat, ATV or motorcycle as well.
- It also helps cover defense costs, attorney fees and other charges associated with lawsuits.
- Like all insurance, an umbrella policy should bring you some peace of mind.
- Can also cover claims from libel, slander, or false arrest.
A Personal Insurance Update An umbrella policy provides additional insurance (limits) coverage, usually over your auto liability and homeowners liability policies. An umbrella policy may also provide a broader form of coverage including, false arrest, libel and slander. For about $150 to $300 per year you can buy a $1 million personal umbrella liability policy. The next million will cost about $75, and $50 for every million after that. (Insurance Information Institute) Benefits Of An Umbrella Policy