Umbrella Insurance - Personal NEW - HTA Insurance Services

Personal Umbrella Insurance

A personal umbrella insurance policy provides an additional layer of liability protection beyond the limits of your homeowners, renters, auto, boat, or other underlying insurance policies.

You do not need to be wealthy to benefit from an umbrella policy. Even if you have limited savings or property, a major lawsuit could place your future wages and financial security at risk.

Personal umbrella policies are often more affordable than people expect. Depending on your coverage needs, insurance carrier, and individual risk factors, $1 million in umbrella liability coverage may be available for a relatively low annual premium.

Because coverage requirements, exclusions, and underlying policy limits vary, it is important to review your options with an experienced insurance advisor.

What does Umbrella Insurance Cover?

A personal umbrella policy provides additional liability coverage

after the limits of your underlying insurance policies have been reached.

Eligible underlying policies may include:

Auto insurance
Homeowners insurance
Renters insurance
Boat insurance
Other personal liability policies

Umbrella insurance may help cover:

Legal defense costs
Medical expenses for an injured party
Lost wages
Property damage
Settlements and court judgments
Certain pain and suffering claims

Some insurance carriers require underlying policies to meet minimum liability limits or be specifically listed on the umbrella policy. An insurance advisor can help confirm that your policies meet the coverage requirements.

Auto

Home

Boat

Motorcycle

Vacation Home

ATVs

Protection for Your Family, Finances and Reputation

Your Dependents

An umbrella policy can also protect your dependent children (for example, if your daughter causes a car accident), any accidents caused by you or your dependent children while operating a watercraft, accidents that occur on rental property you own and personal injury lawsuits arising from slander, libel, defamation of character, false arrest, detention or imprisonment, abuse of process, malicious prosecution, shock or mental anguish.

Legal Expenses

Legal expenses are typically covered on top of the policy amount. The policy may also pay you if your appearance at legal proceedings causes you to lose pay from work (for example, if you are an hourly employee or if you don’t have any personal or vacation days available). Since the insurance company’s money is at risk when you’re sued, it’ll want to protect that money with its own legal team, possibly a better legal team than you could afford on your own.

Personal Injury Expenses

Personal injury sounds a bit like bodily injury, but it refers to damage to someone’s reputation. In a world where many of us are online frequently, sharing our thoughts about various topics on forums or social media, it’s easy to find yourself on the receiving end of a defamation lawsuit. Note, this endorsement isn’t a permit to attack people online. But, it does provide coverage for unintentional harm. Do you have teenagers online, this will cover their liability too (Vicarious liability).

Coverage for libel, slander, defamation of character, invasion of privacy, wrongful eviction, wrongful entry, and/or false arrest, detention or imprisonment.

As with your other liability coverage, your insurer will pay for your defense costs as well.

Do you…

Have a long commute
Drive during rush hour
Drive in the city
Have a swimming pool
Have a trampoline
Own a dog
Entertain often

These put you at increased risk. Umbrella coverage is recommended.

What Umbrella Insurance Does Not Cover

Personal umbrella insurance is designed to provide liability protection for injuries or damage you cause to others.

It generally does not cover:

Damage to your own property
Injuries or medical expenses for you or members of your household
Business-related claims, including paid babysitting or other compensated work
High-risk activities, such as drag racing
Criminal fines or restitution
Intentional bodily injury or property damage
Claims involving sexual harassment or discrimination

Coverage and exclusions vary by insurance carrier. Your policy may still provide limited protection for a child who babysits part-time at someone else’s home, depending on the circumstances and policy terms.