Umbrella Liability Insurance
An umbrella liability insurance policy is generally pure liability coverage over and above the coverage afforded on a home owners, auto or commercial general liability insurance policy. The word umbrella describes how the policy works in that the policy covers a wide array of liability risks. The coverage is generally for a larger limit and is broader than the other liability policies previously mentioned.
In general, an umbrella policy will cover claims that not be covered elsewhere like:
- Libel and Slander
- False Arrest
- Defamation of Character
- Coverage for volunteer activity
- Invasion of Privacy
- An accident with an uninsured motorist
- Coverage is extended to other properties
- Coverage extends worldwide
These policies are not expensive at all with premiums of only $200-300 per year.
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