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Sometimes the coverage that is afforded to you by a basic homeowners or automobile policy just isn’t enough. This is because everybody is different and everybody has different coverage needs. When this occurs, it is time to purchase a personal umbrella policy.
An umbrella policy is an insurance policy that goes on top of your existing insurance policy, and adds additional coverage limits to it. For example, your homeowners policy may only cover you for $25,000 worth of your personal property, or $500,000 worth of liability, but you know that you have/ need a lot more than that. This would be the time to purchase an umbrella policy to cover your existing exposure.
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