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Why with us?
- Competitive Pricing - Top Rates Carriers - Personal or Business Coverage - Extended Coverage for Rental Homes - High Coverage Limit Options - Award Winning Customer Service - Mono-Line or Bundled Plans Request Your Quote Today TEL: (410) 530-6581 |
What is Umbrella Insurance?
Umbrella insurance is added insurance that provides protection above existing limits and coverages of other policies. Umbrella insurance can provide coverage for property damage, injuries, personal liability situations and lawsuits.
Umbrella policies are typically very affordable and can be a great way to help protect yourself against the potentially devastating costs of major claims that exceed the limits of your primary home and auto policies.
If you have thought, "I have home and auto insurance that covers some of these issues." Well that is accurate, but but umbrella insurance insures you much higher limits of those policies and covers some situations not covered by the other types of insurance plans.
Call us at (410)530-6581 to get an umbrella insurance quote today – the rates are lower than you might think!
Umbrella policies are typically very affordable and can be a great way to help protect yourself against the potentially devastating costs of major claims that exceed the limits of your primary home and auto policies.
If you have thought, "I have home and auto insurance that covers some of these issues." Well that is accurate, but but umbrella insurance insures you much higher limits of those policies and covers some situations not covered by the other types of insurance plans.
Call us at (410)530-6581 to get an umbrella insurance quote today – the rates are lower than you might think!
What Does Umbrella Insurance Cover?
Whether it’s a bad car accident involving excessive medical bills or an incident on your property, someone may quickly find yourself responsible for damages that exceed the limits of your underlying auto, home, landlord or boat insurance plan. That’s when having an umbrella insurance policy can provide coverage that goes beyond the limits of your primary coverage.
Umbrella insurance can help provide coverage for:
An umbrella insurance policy is a valuable addition to any auto, homeowners or other policy for extended personal liability protection.
In today’s world, anyone can face a lawsuit, even if you’ve done nothing wrong. That’s why it’s more important than ever to consider adding an umbrella policy as an extra layer of protection for your assets – and your peace of mind.
Umbrella insurance can help provide coverage for:
- $1 million to $10 million of liability, which can help protect assets such as your home, car and boat.
- Claims like libel, slander, defamation of character and invasion of privacy.
- Legal defense costs like attorney fees and other charges associated with lawsuits.
- Liabilities that happen outside the United States.
An umbrella insurance policy is a valuable addition to any auto, homeowners or other policy for extended personal liability protection.
In today’s world, anyone can face a lawsuit, even if you’ve done nothing wrong. That’s why it’s more important than ever to consider adding an umbrella policy as an extra layer of protection for your assets – and your peace of mind.
Our Umbrella Insurance Carriers
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Representing a carefully selected group of financially sound, reputable insurance companies, we place your policy with the company offering the best coverage at a competitive price. We will always work to save you money.
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Examples of when umbrella coverage can help
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Your friend is injured can’t work - Your friend accidentally falls over a toy left in the middle of a hallway by your young daughter. He won’t be able to work for an extended period of time and the liability limits of your homeowners insurance may not be elevated enough to cover his medical bills and other expensed.
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Your tenant had a party and someone was injured - A tenant at the rental home you own had a party. Too many people were at the house and one guest slipped down the stairs from a loose handrail. He will unfortunately need back surgery and ongoing rehab. The lawyers are stating you are negligent for the faulty handrail.
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Your daughter causes a auto accident - While away at school, your 18-year-old daughter causes a terrible car accident that seriously injures a hospitals top doctor. Your auto insurance liability limits might not be high enough to cover their medical expenses, lawsuit and lost income while they are injured.
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You flood your neighbor's home below - You forget you left your shower running when you got sidetracked checking for mail in your condo building’s lobby. While you’re in the lobby, the shower overflows — pouring into your downstairs neighbor’s home. Your condo insurance won’t cover the full costs of damage to their property.
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Business Umbrella Insurance Coverage
When do small businesses need commercial umbrella insurance?Business owners who purchase business umbrella insurance usually need it to satisfy a contract that requests higher than standard policy limits which they currently carry.
Commercial umbrella insurance offers added liability coverage for the most pricey lawsuits. For example, if a covered lawsuit maxes out your general liability insurance policy but you still owe money for losses, commercial umbrella coverage can provide added funds to make up the difference.
Particularly, umbrella liability insurance can supplement your coverage already in place from:
Typically, before you can buy umbrella liability insurance for any of these policies, an insurer will require you to carry a certain amount of coverage for the general business owner policy. As an example, if a client's contract required a general liability policy with a $5 million per occurrence limits, an umbrella policy of $3 million would need to be added to your existing $2 million general liability policy in order for you to satisfy the request .
Commercial umbrella insurance offers added liability coverage for the most pricey lawsuits. For example, if a covered lawsuit maxes out your general liability insurance policy but you still owe money for losses, commercial umbrella coverage can provide added funds to make up the difference.
Particularly, umbrella liability insurance can supplement your coverage already in place from:
- General liability insurance
- Employer's liability insurance
- Commercial auto insurance
Typically, before you can buy umbrella liability insurance for any of these policies, an insurer will require you to carry a certain amount of coverage for the general business owner policy. As an example, if a client's contract required a general liability policy with a $5 million per occurrence limits, an umbrella policy of $3 million would need to be added to your existing $2 million general liability policy in order for you to satisfy the request .
Why Purchase Commercial Umbrella Insurance?
Commercial umbrella insurance used to be thought of as a policy that only large businesses bought. Nowadays, more small businesses secure commercial umbrella insurance, because lawsuits can easily escalate over your standard limits. You might consider purchasing commercial umbrella insurance if:
Think of business umbrella insurance coverage as a safety blanket for your business. Your other liability policies will be used as your first line of defense. However, when you need additional protection on a lawsuit that exceeds the limits of your general liability policy, your commercial umbrella insurance can pick up the remainder.
- You land a client who requires more liability insurance. Umbrella coverage helps close the gap on contract requirements over $2 million.
- You handle Hazardous Material. In certain industries, you may be more exposed to a higher frequency an severity of claims if your business has exposures to hazardous material. An umbrella policy can pick up the slack on the claims exceeding your normal limits.
- You have lots of exposure to the general public. The more foot traffic a business has, the greater its risk for expensive lawsuits.
- Your business owns many commercial vehicles. businesses that have a fleet of vehicles might want coverage to protect against the added risk of multiple minor accidents or the added chance of one very severe loss.
- Your work is dangerous. The more dangerous the work, the greater that an employee could be injured. Industries such as roofing or construction are at greater exposure. Umbrella insurance added to workers compensation guards against employee lawsuits that your negligence led to an injury.
Think of business umbrella insurance coverage as a safety blanket for your business. Your other liability policies will be used as your first line of defense. However, when you need additional protection on a lawsuit that exceeds the limits of your general liability policy, your commercial umbrella insurance can pick up the remainder.