Get coverage in minutes!

340981~|mapfre~|COCHE-32~|

Car

340981~|mapfre~|HOGAR-32~|

Property

Home > Blog > What is umbrella insurance and why should I buy it?

What is umbrella insurance and why should I buy it?

A: An Umbrella policy is one that sits over one or more underlying policies and provides another layer of protection for you. If the limits available on your underlying policies aren’t high enough to protect you and your assets in the event of an accident with your car or at your home, then an Umbrella policy can be added for additional coverage. For example, if someone slips and falls at your home, gets injured and then sues you, your umbrella policy would cover the cost of that if your current homeowner’s policy coverage doesn’t end up being enough. 

A common policy arrangement is to get an Umbrella policy that sits over both the Homeowner’s and Personal Auto Policies. In the event of a covered loss that exceeds the limits of an underlying policy, the umbrella policy will kick in and pay up to its entire amount in addition to the underlying limit. A typical umbrella limit is $1,000,000 but they can also be purchased for much higher amounts. If an insured has a Homeowner’s policy with a $1,000,000 liability limit and also has an umbrella policy with a $1,000,000 limit, you could have up to $2,000,000 in coverage.

Ask an agent today if you need an umbrella policy.

Answered by Kimball-Cooke Insurance

Articles

Water Safety Tips

Water Safety Tips

Drowning is still the leading cause of preventable death among children 1-4. Accredited swim lessons between ages 1-4 reduce drowning risk by 88%. Here are other tips for keeping kids and guests safe in and near the water at your home or on your boat!    ...

read more
Rain, Rain Go Away

Rain, Rain Go Away

Spring is almost here! With snow melt and wet weather ahead, learn what you can do to help prevent spring water damage. Find out the key differences between water damage and flood damage. Flooding is increasingly common outside of flood zones. Ask your independent...

read more