What is an umbrella liability policy and do I need one?
An umbrella liability policy protects you and your covered family members in the event of a lawsuit. It is an extension of the personal liability coverage offered in a standard home insurance policy. There are exclusions for each umbrella policy, however, most will cover:
- Lawsuits involving claims of bodily injury or property damage that are caused by you and/or a member of your home
- Lawsuits involving claims of bodily injury that occur on your property or due to hazards on your property
- Additional coverage above your auto policy limits for auto related claims
- Protection against personal injury claims such as libel, slander, wrongful eviction and false arrest.
- Costs for legal defenses for a covered loss, including court and attorney fees
Related Home Insurance FAQs:
- Why is the replacement cost so high? I didn't pay that much to buy it.
- What does my policy cover?
- After I renovate my home, do I need additional home insurance coverage?
- If my household appliances cause water damage does my home insurance cover that?
- What's the difference between replacement cost and actual cost value?
