home or renters insurance policy provides liability coverage, some situations can fall outside of basic policy coverage—and that can get costly very fast. Bankrate’s insurance editorial team dives a bit deeper to help you understand what an umbrella insurance policy is and what it covers so yo...
While umbrella insurance is beneficial for many individuals, it’s important to weigh the cost versus the potential benefits. Premiums for umbrella insurance can vary depending on factors such as your risk profile and the amount of coverage you desire. Speaking with an insurance professional can hel...
is a way to protect your savings and other assets. If you are sued for damages that exceed the liability limits of your car insurance, home insurance, boat insurance, or other personal policies, an umbrella policy helps to pay what you owe. It is a way of sheltering you from the storm...
What is umbrella insurance? It is primarily extra liability insurance, and it's designed to help protect you in the event of an accident, a lawsuit or other major claims. It therefore helps to secure your current assets -- and your financial future -- if you are in a major auto accident...
Although everyone is required to have liability car insurance, there is no “one size fits all” auto insurance policy for all drivers. Your situation is unique, and the maximum benefit that you might need may be different from your neighbor, your family, or someone driving the same exact ve...
house, car or sizable savings account — you may want to purchase more liability insurance to cover your net worth and prevent assets from being taken in a judgment. You may even consider anumbrella insurance policyto provide extra liability coverage above typical standard car insurance policy ...
With personal liability insurance, you and your family are safeguarded against unpredictable mishaps while ensuring your financial well-being is also protected. As a homeowner, you may be able to rest easier knowing that a dog bite or unfortunate fall won’t wipe out your life savings. ...
An umbrella policy is a type of broad personal liability insurance that protects you from expensive legal fees exceeding the limits of your other main liability policies. They don’t replace existing auto, home, or watercraft coverage[1] but act as an additional layer of liability protection. ...
Umbrella personal liability insurance is often referred to as excess liability insurance. It protects savings and other assets from a major lawsuit if a policyholder finds themselves on the wrong end of a damages lawsuit. These lawsuits may exceed the liability limits of an automobile, homeowners, ...
Umbrella liabilitypoliciesare personal liability policies designed toprotect against catastrophic losses. Coverage generally kicks in when the liability limits of other insurance are reached. Commercial liability insuranceis a standardcommercial general liabilitypolicy also known as comprehensive general liability ...