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  • FYI Express: GA 05/22
  • Promotional Videos
  • I Promote You!
  • Georgia 20 Hour Limited Subagent
  • Georgia 20 Hour Personal Lines Agent
  • Georgia 24 hours CE On Demand
    • #1: Georgia OCI
    • #2: Modern Family
    • #3: Auto Insurance
    • #4: Home Insurance
    • #5: Stand Alone Policies
    • #6: RC vs ACV
    • #7: E & O Prevention
    • #8: Small Business Insurance
    • #9: Ethics
    • #10: Life Lessons
    • #11: You Deserve a Break
    • #12: Insurance Fraud
    • #13: Here Comes the Judge
    • #14: Agency Management
    • #15: Customer Service Tips
    • #16: Employee Training
    • #17: Insurance 101
    • #18: Coinsurance Clause
    • #19: C.O.P.E.
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    • #23: Restaurant Insurance
    • #24: Digital Handshakes using Zoom
    • #25: Day Care Centers
    • 24 Hour CE Exam
  • South Carolina Personal Lines Course
  • Texas Limited Lines Course
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FYI Express

Should I purchase an Umbrella Liability policy?

11/8/2021

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​If you are ever sued, your standard homeowners or auto policy will provide you with some liability coverage, paying for judgments against you and your attorney's fees, up to a limit set in the policy. However, in our litigious society, you may want to have an extra layer of liability protection. That's what a personal umbrella liability policy provides.
  • An umbrella policy kicks in when you reach the limit on the underlying liability coverage in a homeowners, renters, condo or auto policy. It will also cover you for things such as libel and slander.
  • For about $150 to $300 per year you can buy a $1 million personal umbrella liability policy. The next million will cost about $75, and $50 for every million after that.
  • Because the personal umbrella policy goes into effect after the underlying coverage is exhausted, there are certain limits that usually must be met in order to purchase this coverage. Most insurers will want you to have about $250,000 of liability insurance on your auto policy and $300,000 of liability insurance on your homeowner’s policy before selling you an umbrella liability policy for $1 million of additional coverage.
Want to know more? Our agency stands ready to give you a no-obligation review of your insurance needs.
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