Personal umbrella insurance is extra protection against large liability claims. Umbrella insurance is liability insurance that protects you and your assets from large lawsuit judgments against you. Another name for umbrella insurance is “excess liability” coverage.
An umbrella policy provides liability protection above your standard homeowner, auto or boat insurance and may cover you for claims that are excluded by your other liability policies.
While your regular home and auto policies provide liability protection, the coverage may not be enough should you face a catastrophic liability claim. If you own property or have other assets you want to preserve, you should strongly consider umbrella insurance.