Did you have an insurance policy fail on you? Be it a gap in your coverage, hitting payout limits, or an issue of liability, there’s a policy that more and more Americans are bundling with their existing insurance policies: umbrella insurance. This inexpensive insurance fills the gaps that other insurance leaves behind when it comes to liability. Today we’re going to answer the question: “What is umbrella insurance?” and discuss how you can bundle it with your other policies to enhance your coverage.

Understanding the Liability Protection of Insurance

Before we talk about umbrella insurance, let’s revisit one of the core concepts of insurance: liability. When it comes to the risks that insurance protects against, liability generally refers to being found legally liable. This can take on many forms, from when a guest injures themselves in a home to a lawsuit filed against a small business. This is why most insurance policies you have – such as home insurance, car insurance, and business insurance – provide liability protections as a core component of the policy.

Want to learn more about the role of liability in insurance? Check out our blog on the matter, What is Liability? Understanding Insurance and Risk.

What is Umbrella Insurance?

Umbrella insurance is a liability insurance policy that improves the existing limits of your current policies and provides some additional coverage. Among its benefits are:

• Improved Liability Protection: Adding umbrella insurance increases your liability protections, specifically libel, slander, and false imprisonment, giving you more legal protection.
• Deeper Coverage: Every policy you have, from car to home, has payout limits. Umbrella insurance extends these limits, meaning you’re covered for more expenses.
• Low Cost: This policy costs very little each year to provide very deep coverage. If you find yourself in one of the situations below, umbrella insurance is a cheap investment.
• Multi-Policy Umbrella: This policy doesn’t apply to just one, but rather multiple types of insurance – homeowners, auto, watercraft, renters, and more!

Bundling Umbrella Insurance with Other Insurance

With all the above information – how umbrella insurance offers improved liability protections that other insurances miss, deeper coverage on existing policies, and a low-cost solution – it’s no wonder why it’s a popular add-on to many people’s insurance plans.

Want to learn more about umbrella insurance and how it can help improve your existing (or new) policies? At Safeside Insurance, we’ve been helping homeowners, car owners, and business owners navigate policies and claims for over 30 years. Our agents will work with you to get the Right Insurance for the Right Price! Contact us today, call us at 508-753-8862, or dive right into getting a quote.