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Why Buy Personal Umbrella Insurance?

Why Buy Personal Umbrella Insurance?


What is a Personal Umbrella?


Umbrella Insurance is a unique personal liability coverage. A Personal Umbrella exists for the sole purpose of providing you with excess liability coverage in case the sum, due to a covered cause of loss, owed is higher than what your existing underlying insurance coverage will pay. In some cases, insurance shoppers skip out on purchasing Personal Umbrella Coverage thinking there is no way they will find themselves in a situation where they will have to pay more money than their existing policy will dish out. However, as the pandemic has taught us, life is often unpredictable and it is always a good idea to be prepared in case disaster strikes! Umbrella Policies are triggered everyday across the United States, saving the individuals who purchased them thousands of dollars of financial burden and a lot of worry. To demonstrate how important this coverage can be, we outlined three real life examples of Personal Umbrella Policies coming to the rescue for insured individuals.


The below examples are provided by Travelers Insurance:

Concrete Chaos: This first claim on a Personal Umbrella Policy takes us to sunny rural California. An Insured retired and bought their dream home on a hillside. The property was covered with concrete that had been installed before the property was purchased. One night, out of the blue, approximately 5 feet of the concrete fell to the neighboring property knocking the claimant’s home from its foundation. The resulting claim was settled for $970,000. Thankfully for the Insured, they had a Personal Umbrella Policy, preventing them from having a significant financial burden to their neighbor.


Mentor Madness: This second claim transports us to the softball pitch. A high school prodigy was destined for greatness, outperforming her peers and gaining the attention of local media. However, she never accomplished her goal of achieving a college scholarship. The teenager alleged her coach's “incorrect” teaching style ruined her chances for an athletic scholarship. She filed a $700,000 lawsuit against him. Luckily for this shocked softball coach, he had purchased a Personal Umbrella Policy. Although he may never want to coach again, listening to his insurance agent prevented him from losing all of his savings.


Professor Pandemonium: This last claim came out of the classroom. An insured’s daughter despised math class and especially disliked her math teacher. Her hatred resulted in her to log online and make several “disparaging” and false remarks about her teacher on the internet. The teacher was made aware of these posts and sued the parents for personal injury. She won and $750,000 was paid to the teacher. Fortunately for the parents of the student, they had recently secured a Personal Umbrella insurance policy. Without this policy, it’s safe to say the college fund would have been emptied.


Final Thoughts: After working so hard to accumulate assets and savings, the last thing an insured needs is to face financial loss due to an unexpected event because they didn’t purchase a Personal Umbrella Policy. Here at Moore Resources, we are happy to quote an umbrella for you today! Give us a call, and let our agents protect you from unforeseen perils.



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.