Umbrella insurance covers liability costs when your auto or homeowners policy limits run out. Jerry Taylor uses an example: a jury awards $500,000 in damages but your auto coverage only goes to $300,000, leaving you $200,000 short unless you have an umbrella policy.
Do you have umbrella coverage? Do you need umbrella coverage? Umbrella coverage is a type of insurance that provides extra liability coverage beyond the limits of your existing policies. If you're found to be responsible for damages above the existing liability you have on your car, homeowners, and other policies, then umbrella coverage, if you have it, will help you cover the additional amount that is over and above your underlying policy coverage. Let's say you've got $300,000 of coverage on your automobile, basic coverage on your automobile for liability. You have an accident in your vehicle, you get sued as a result, and a jury returns a verdict for $500,000. You can go to my bio page, Linktree, to get my newsletter, and if you'd like to work with me. Your underlying coverage on your vehicle would cover $300,000, but, but without some other type of coverage, you would be responsible for the additional $200,000 in damages. If you had an umbrella
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