Coverage Types
Umbrella Insurance
Definition
A personal liability insurance policy that provides additional coverage beyond the limits of the insured's existing homeowners, auto, or boat policies. Umbrella policies typically start at $1 million in coverage.
In Zach’s Words
“An umbrella policy is your safety net's safety net. When a lawsuit exceeds the limits on your auto or homeowners policy, your umbrella kicks in. If someone sues you for $1.5 million and your auto liability maxes out at $500K, the umbrella covers the remaining $1 million. For the cost — usually $200-400/year for $1M — it's the best value in insurance.”
— Zach Nadler, CIO