Umbrella Coverage

The purpose of umbrella insurance is to help safeguard your assets from potential lawsuits and liability claims that exceed the limits of your primary insurance policies. By having umbrella insurance, you can better protect your financial well-being and mitigate the risks associated with unexpected liability claims, ensuring you are prepared for any unforeseen incidents. 

What Is Umbrella Insurance and Why Is It Important? 

Umbrella insurance may help provide extra protection beyond the limits and coverage of other policies. It kicks in when another policy reaches its limit. Umbrella insurance may also offer coverage that isn’t included in other policies. 

Umbrella insurance, categorized as personal and commercial umbrella policies, can benefit individuals and businesses. Specific coverage offerings will depend on what type of policy you seek, whether for personal or business purposes. 

How Does Umbrella Insurance Differ From Excess Liability Insurance? 

Umbrella insurance and excess liability insurance are both supplemental liability coverages, but they differ in scope and application. Umbrella insurance offers broader protection over various underlying policies, extending coverage to areas not included in the primary policies. It is suitable for individuals or businesses with diverse insurance needs.  

In contrast, excess liability insurance is specific to a single underlying policy, providing additional coverage only when the limits of that policy are exhausted due to a covered loss. While umbrella insurance tends to be more flexible and may require meeting specific underlying insurance limit requirements, excess liability insurance is tied directly to the limits of the designated underlying policy, making it more focused and less complex in eligibility requirements. The choice between the two depends on the individual or business’s specific insurance needs and circumstances.
 

How Can I Get Umbrella Insurance Quotes? 

If you need a quote for umbrella insurance, contact A-Best Insurance Agency. We can help make sure you have the coverage you need.