Q. What does a personal umbrella liability policy provide?
A. A personal umbrella liability policy increases your liability protection. This single policy acts as an “umbrella” over all of your other personal liability policies so you have a higher personal liability limit than what would otherwise be available. In certain circumstances, an umbrella policy may provide personal liability coverage that is otherwise excluded from your other policies. For example, an umbrella policy provides coverage anywhere in the world, whereas your auto policy usually provides coverage in the US and Canada only.

Q.Should I purchase a personal umbrella liability policy?
A. Many times we think of wealthy individuals as being subjected to lawsuits. However, even individuals with modest incomes and assets are often subjects of large lawsuits. Since they are even less able than a wealthy individual to pay large damage awards, they recognize the need to have coverage limits greater than what can be obtained from their homeowner or auto policies.