Umbrella insurance provides additional liability coverage beyond the limits of your standard homeowners, auto, or other primary insurance policies. It is designed to protect your assets and future earnings from major claims and lawsuits, offering an extra layer of security. This type of insurance covers a wide range of liability situations, including bodily injury, property damage, legal fees, and certain personal liability scenarios like libel or slander. Umbrella insurance typically kicks in when the liability limits of your underlying policies are exhausted. It is especially beneficial for individuals with significant assets or higher risk exposure, as it ensures comprehensive protection against potentially devastating financial losses.
