Do You Need a Personal Umbrella Policy?

It’s easy to find out if you do. Just answer the following questions:

  • Do you own a home?
  • Do you have kids that drive?
  • Do you have any assets, such as real estate, an investment portfolio or a retirement plan that you want to protect?
  • Do you sit on the board of a non-profit organization?

If you answered “yes” to any of the questions then you definitely need a personal umbrella policy!

The purpose of an umbrella insurance policy is to provide an extra layer of coverage in addition to your auto, homeowners, and other personal insurance policies. This extra layer of insurance coverage will protect you in the event of a catastrophic loss. Umbrella policies not only provide coverage in addition to the coverage you already have, but also provide coverage in place of your personal policies if for some reason you incur a claim that your primary personal policies won’t cover.

It may seem like the coverage provided by your personal policies is enough and that another layer of coverage is unnecessary, and in most cases that’s probably true. But with the litigious nature of our society and the inability to predict what may happen in the future, there is always a chance that it won’t be enough. The premiums for umbrella policies are reasonable and small, especially compared to the financial risk of not having this coverage. At Brown & Brown, we feel that an umbrella policy is an important part of personal risk management and we have the expertise to tailor this coverage to your unique needs.