What is an umbrella policy?
Simply put, a personal umbrella policy (PUP) offers additional liability coverage beyond the limits of your existing insurance policies. Typically written in increments of $1 million, these policies help reduce your out-of-pocket expenses and protect your assets – your savings, home, or business – from large claims and legal judgements. These policies become relevant when a property damage or physical injury claim exceeds the limit of your underlying home, auto, boat, or other policies.
Like other liability coverages, an umbrella policy provides coverage when the insured is found legally responsible for property damage or injuries to another person. A personal umbrella policy does not provide coverage for the insured’s own belongings or injuries.
| What is covered by an umbrella policy? | What is NOT covered by a personal umbrella policy? |
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Want to learn more? Check out this video from RLI insurance: