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Do I Need an Umbrella Insurance Policy?

Do I Need an Umbrella Insurance Policy?

Life is full of surprises; both pleasant and unfortunate. And since we are unable to see the future, we protect ourselves from the unexpected with a layer of liability insurance. Liability coverage is included in most Homeowners, Renters, Automobile, and Watercraft insurance policies and is designed to protect your family’s assets when you are at fault or liable for bodily injury or property damage. This sounds great in theory, but the reality is that the limit of liability insurance on those policies is often unsatisfactory for meeting the legal ramifications of a serious accident. When disaster strikes, it is a lost feeling to be faced with losing assets that you’ve worked so hard to obtain. But there is a saving grace that can bail you out when you do not have a rich uncle Herold to turn to.

An umbrella insurance policy, also commonly referred to as an excess liability policy, is designed to protect your savings and other personal assets if you are sued for damages that exceed the liability limit of an underlying insurance policy such as your home insurance, auto insurance, or watercraft insurance. Let’s use an example for clarity and pretend that you are sued for $600,000 in bodily injury and property damage claims after a bad car accident. Unfortunately, in this example you only have a combined liability limit of $300,000 on your auto insurance policy. This leaves a whooping $300,000 that will be offset by personal savings, and any other assets that you personally own. Unless of course you have a personal umbrella policy with a $1 Million limit that covers your auto policy.

Personal Umbrella policies cost less than $1 a day in most states and are a very economical purchase, however many people don’t understand the need for this layer of protection. If you drive a car, entertain house guests, own a pet, or operate a watercraft, then a personal umbrella insurance policy is right for you. Basically, a personal umbrella is the layer of protection that stands between you and a potential bankruptcy.

For more information on the benefits of a personal umbrella insurance policy, or to discuss the specific cost for excess liability, contact a Moore Resources Insurance agent. For a few hundred dollars a year, you will be glad you did if disaster strikes.




Moore Resources is an Independent Insurance Agency located in St. Petersburg, FL and offering Homeowners Insurance, Auto Insurance, Personal Insurance and Business Insurance. Our reach extends beyond the Tampa Bay area to the entire state of Florida. Moore Resources has regionally been dedicated to serving the local residents of Pinellas, Hillsborough, Polk, Pasco, Manatee and Sarasota counties; including St. Pete, Tampa, Clearwater, Bradenton, Brandon, Dunedin, Gulfport, Lakeland, Largo, Lutz, Palm Harbor, Pinellas Park, Riverview, Ruskin, Seffner, Seminole, Temple Terrace, Tierra Verde, Town n Country,  and the Gulf Coast Beaches.


The purpose of this blog is to present general information only. It does not interpret specific policies or coverage. In order to obtain detailed information regarding your insurance, contact a licensed insurance agent.