Insurance policies have limits that help to control your premium costs. In addition, these limits help insurers ensure that they are able to fulfill their financial responsibility and meet the claims needs of their policyholders. But limits leave you with some exposure to financial loss, because any claims that exceed the amount of a policy’s limit must be either paid for out of your pocket or be unrecovered. An umbrella policy can fill the gap that exists between your limits and your potential claims.
Umbrella policies extend the coverage limits of many types of liability insurance policies such as Auto and Homeowners Insurance. It can provide $1 million or more in additional coverage to each of those policies you have. Umbrella insurance can also provide protection for situations that would be excluded by other policies, such as when you are accused of slander or libel.
No matter how aggressive your liability insurance policy limits are, the inexpensive addition of umbrella insurance is a great, affordable way to extend your protection and meet whatever comes
your way in the future.