Umbrella insurance provides additional liability coverage above the limits of other insurance policies like homeowners, auto, or watercraft insurance. It protects policyholders if a loss exceeds the liability limits of their other policies by covering them for amounts they would be personally responsible for. An example is given of a driver whose auto policy only covered $100,000 of a $1,000,000 train derailment they caused - umbrella insurance would cover the remaining $900,000. Umbrella policies may also provide additional coverages not included in other policies, like worldwide auto liability or coverage for libel and slander.

1. What is Umbrella Insurance?
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2. What is Umbrella Insurance?
There are a variety of types and sub-types of insurance available.
Umbrella Insurance is a catch-all for the areas that your other
policies might not cover. No matter if you have a homeowner’s, auto,
or watercraft insurance policy, an Umbrella Insurance Policy may be
applicable to your situation if you need adjusted liability coverage.
Various policies have a limit in regards to liability coverage or the
maximum amount payable per loss. If this limit is inadequate for
paying the total loss, you are personally responsible for the balance.
In this situation, referred to as an “underinsurance” problem, a
person with an Umbrella policy has protection.

3. Umbrella Insurance Example
The following is an example of a case where Umbrella Insurance
helped save the financial assets of a policy holder:
A driver in a car attempts to race over railroad tracks with an
oncoming train. The resulting crash derails the train and totals the
driver’s car. Luckily, no one is harmed. Unluckily, the cost to repair
the locomotive is over $1,000,000 and the car driver is held
responsible. The driver has an auto insurance policy, but it only pays
property damage up to $100,000. The other $900,000 in damages is
the personal responsibility of the car driver, since he is held liable.
If the driver has Umbrella Insurance with $900,000 or more in liability
protection, that $900,000 will be covered.

4. Umbrella Insurance
And Umbrella Insurance policy may also provide coverage not provided in
the other policies. This may include worldwide auto liability coverage or
coverage for libel and slander. These other coverages may be subject to a
deductible called an SIR.

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does not represent contractual agreements. The definitions, terms
and coverages in a given policy may be different than those
suggested here and such policy will be governed by the language
contained therein. No warranty or appropriateness for a specific
purpose is expressed or implied.

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