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Personal Umbrella

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We offer flexible payment plans to fit any budget needs.

We offer flexible payment plans to fit any budget needs.

We've helped over 60,000 customers buy more affordable insurance coverage.

We've helped over 60,000 customers buy more affordable insurance coverage.

We shop your coverage with up to 35 national carriers.

We shop your coverage with up to 35 national carriers.

We shop your personal insurance to save you time and money.

What is Personal Umbrella Insurance?

Personal umbrella insurance is extra liability insurance, it extends the limits on your underlying policy (usually a homeowners or auto policy). Umbrella insurance is designed to protect your personal assets after a catastrophic event or any claim excessive of your underlying coverage limits. Another way umbrella insurance benefits home and auto owners is by adding additional coverages usually excluded from home/auto policies. These coverages can include: false arrest, libel, slander and liability coverage on rental units you own.

To be more specific, umbrella policies only extend coverage for liability claims such as injuries, property damage, certain lawsuit expenses as well as personal liability claims. Some examples of coverages available with umbrella insurance include:

  • Bodily Injury Liability. This coverage will add extra protection for situations such as third-party injuries in your home, injuries to others as a result of an auto accident and injuries caused by your pet (some breeds excluded, see animal liability for more information on insuring against dog bite/injury lawsuits).
  • Property Damage Liability. This coverage extends limits for the costs of damage or loss to another person's tangible property. This can include damage to another vehicle as a result of an accident where you were at fault, damage to another person's property made by your pet and even accidental damage to school property caused by your child.
  • Owners of Rental Units. This coverage provides extra landlord coverage to those who own rental units. Claims on this coverage could include a third-party injury arising from a crack in the cement on your rental property or such claims as an injury caused by your tenant's dog.
  • Coverage can also be provided should you be sued for:
    • Slander (spoken).
    • Libel (written).
    • False arrest, detention or imprisonment.
    • Malicious prosecution.
    • Shock/mental anguish.
    • Other personal liability situations.

Find your lowest business insurance rates.

Find your lowest
personal umbrella rates

We take the time to assess your current coverage and coverage gaps, then get to work finding the lowest rates available for your needed coverage.

  • National personal insurance specialists.
  • Licensed throughout the United States.
  • Multiple carrier discounts available.
Compare quotes from over 35 carriers.

Compare quotes
from over 35 carriers

Once we've got your best quotes back from our carriers, we take the time to help you understand your options and take the next steps to get you covered quickly.

  • Easy and fast quoting and binding process.
  • We'll help you extend coverage on any qualifying policy.
  • We continue to follow up after binding; our service to you never ends.

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Personal Umbrella Insurance
We shop your personal insurance to save you time and money.

Why Do I Need Personal Umbrella Insurance?

Unfortunately, the number of lawsuits against home, auto and boat owners for third-party bodily injury or property damage is not diminishing. All homeowners, auto and watercraft policies have limits on liability claims. Once you have reached your limit, your personal assets are at risk. According to the Insurance Information Institute, III, bodily injury/property damage between the years 2011 and 2015 came in second in claims severity with approximately $22,000 for the average claim (fire and lightning have the highest homeowner claim average of $44,000). However, you can be found liable for other costs not included in that average, such as medical payments made to third-parties, which averaged almost $3,000 in 2015. Think it can't happen to you? According to III, one in 1,000 households have a claim each year for bodily injury or property damage that the policyholder or family members cause to others. Remember that your pets are included in that! Have an aggressive dog or simply untrained dog? You may want to think about adding animal liability onto your homeowners policy.

What Does Personal Umbrella Insurance Cost?

According to III, you can buy a $1 million personal umbrella policy for about $150 to $300 per year. As the limit grows, as will the premium. Talking to a personal lines specialist will help you identify your gaps in coverage and weigh the benefits of adding an umbrella policy over your home, auto or watercraft insurance policies. Before deciding how much more coverage you need consider that 13 percent of personal injury liability awards and settlements are $1 million or more (as reported by TrustedChoice). Some rating factors for umbrella insurance include:

  • Your net worth.
  • Your geographic location.
  • Your credit history.
  • Driving records in your household.
  • Your risk profile.

What are Common Personal Umbrella Claims?

As reported by TrustedChoice, 13 percent of personal injury liability awards and settlements are over $1 million. The average liability limit on homeowners policies is $100,000 and auto policies typically have a maximum of $300,00 for personal injury and $500,000 for accident liability coverage.

How Can I Reduce my Risk?

Reducing your risk of a personal liability claims starts with common sense. Repair broken floor boards and salt your driveway and sidewalks in freezing conditions, both precautions that can prevent a slip and fall on your property. The best strategy is to make a list of all known exposures, or areas in your house that have the greatest chance of accident (such as the stairs or front porch), then attempt to make those areas as safe as possible. In some cases, posting a sign for the public, such as a "beware of dog" sign, is the best way to prevent or reduce liability in the event of an incident.

Frequently Asked Questions

  1. Does umbrella insurance cover any professional liability?
  2. Yes, and it is a smart move on the part professionals such as physicians, psychologists and contractors. Ask an expert at The Insurance Shop if you need personal umbrella to cover any professional liabilities as well.

  3. Will umbrella insurance help if I reach the limits on other coverages in my homeowners or auto policy?
  4. No, umbrella insurance does not typically cover any claims other than those that are for liability. Ask an expert at The Insurance Shop if you are worried about going over your homeowner or auto limits.

  5. Should landlords purchase umbrella insurance?
  6. Any property owner would benefit from umbrella insurance. If you allow any member of the public onto your property (trespassers are not usually recognized as valid claimants) then you are at risk for a liability claim and should access your coverage limits with a professional insurance specialist.

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Whether you are looking for the best coverage or to save more money over your current policy, our fast and friendly service staff is always here to help. As we work with numerous carriers across the United States we can offer more products at the best competitive rates. We at The Insurance Shop don't stop there, we also have a highly trained and experienced customer service team who guide and support you both before and after you've obtained your coverage.

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