Umbrella insurance is a form of liability insurance designed to provide an all-encompassing level of protection. This coverage picks up where other forms of liability insurance leave off.
If you have a higher-risk home, such as one with a pool, umbrella insurance adds an essential layer of protection. Parents of teenagers (who tend to be riskier drivers), dog owners and anyone with a boat or rental property are also good candidates.
Umbrella insurance is available as an add-on to most people who purchase a property insurance product, such as home insurance or business insurance. Because it’s an extension of your existing coverage, it tends to be very affordable — and it’s a small price to pay for the level of protection it can offer to you.
You can easily fall victim to a liability lawsuit in today’s world. Even if you don’t have a high-risk home, accidents do happen. If you want to protect your money and property from claims made after an accident or injury, having an affordable umbrella insurance policy makes sense.