What is an Umbrella Policy?
Answer:
An Umbrella Liability is aptly named.  It’s protection designed to provide complete coverage—an insurance canopy opened over your head stopping extra large, financially devastating hail stones in the form of law suits.  It’s not a prerequisite to be rich or have a high net worth to consider yourself a candidate for…

an Umbrella policy.  An Umbrella policy is a liability


plan that provides coverage over and above your existing homeowners and auto insurance policies.  It won’t “kick in” until those policies have paid out their limits and you’ve met your deductible.  For example…  your homeowners policy carries a $500 deductible, and $100,000 in liability coverage.  Someone visits your home and slips on the front steps—causing severe injury for which you’re liable.  You neglected to shovel the snow in a timely fashion.   You’re sued for $750,000 after a court determines your liability.  With a $1,000,000 Umbrella policy in place, your total out of pocket would be $500.  The Umbrella policy would pay $650,000, your homeowners liability would pay $99,500.  From this example—and you should know that in our litigious society this is not far fetched—you can see that paying around $300 per year for an Umbrella policy is not a bad investment.  You get peace of mind and a future safe from financial devastation.
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