Excess / Umbrella
Generally speaking, an Excess/Umbrella Policy offers an additional amount of liability insurance protection over what most primary liability policies provide. Judgments of $1 million or more are not uncommon today. Depending on the liability insurance limits you select, the Excess/Umbrella Policy can provide you, your spouse, and children living with you $1 million or more in liability insurance protection for covered losses.
Excess/Umbrella coverage may also provide broader liability insurance coverage than the primary auto, homeowner, boat or personal insurance policy.
For the best coverage at a reasonable price, the Excess/Umbrella Policy could provide additional valuable coverages to the standard umbrella policy:
Claims Expense – Loss of Earnings Coverage – coverage for actual loss of earnings that result from assisting us in the investigation or defense of a claim or suit is increased from $250 per day to $1,000 per day.
Rental Car Loss of Use Coverage – pays up to $1,000 when the rental car company requires you to pay while the damaged rental car is repaired and out of service after a covered accident.
Loss Assessment Liability Coverage – pays up to $100,000 for loss assessments charged by a property owners' association against the insured in connection with liability relating to the residence premises.
Wellington Partners Insurance Services Inc. also offers Uninsured/Underinsured Motorists Coverage for your Personal Umbrella Policy. What happens if you are involved in a car accident where the other driver is held liable but they don't have insurance or high enough limits to cover your injury expenses? Uninsured/Underinsured Motorists Coverage may protect you from having to pay for those expenses out of your own pocket. Coverage details and restrictions may vary based on the policy.