You’ve worked hard to build up your assets and you should consider fully protecting them. Whether it’s a second home, a boat or a college fund, an umbrella policy provides peace of mind that’s above and beyond your home or auto policy. Umbrella insurance is supplemental coverage that increases your liability insurance limits. It provides additional protection if you or a family member is held responsible for injuries or damages to others.
Anyone with total assets that are significantly greater than the liability limits of existing base insurance policies — such as home and auto insurance — should consider buying an umbrella policy.
If you’re like most people, the dollar value of your assets totals more than you think. It can quickly add up when you consider the value of your home, your savings, your retirement funds, your brokerage accounts and other assets like a second or third car.
Umbrella insurance is especially important for people who may be at higher risk for lawsuits, like dog or pool owners, and families with teenage drivers.
Standard liability insurance may not be enough to keep you covered. If you are sued for causing severe injuries to another party in an automobile accident, you can quickly reach your base policy limits. An umbrella policy can help in this situation by adding an extra layer of liability protection. Plus, it usually costs less than you might think depending on the specific situation and circumstance.
Plymouth Rock Assurance does not issue Massachusetts or Connecticut home insurance policies. Home insurance for those states is written by our affiliate, Bunker Hill Insurance, a separate company. Each company is financially responsible only for its own insurance products. Actual coverage is subject to the policy as issued by each separate company. See the Bunker Hill Insurance website for more details.