Umbrella insurance is designed to provide additional insurance coverage on your current existing Insurance policies, by filling in coverage gaps, helping to protect you financially and personally. With an umbrella insurance policy through HRT Insurance Group, we can add additional monetary limits to liability protection, and will extend those limits to not only provide additional coverage for bodily injury and property damage, but also to cover things that are not listed under regular liability allowances. Every policy is different, so what is considered a covered liability issue under one insurance line may not be covered on another insurance line. This added protection is designed to help you when the liability coverage on a current policy has been exhausted.
Typically, an umbrella policy is pure liability coverage over and above the coverage afforded by the regular policy, and is sold in monetary increments. The term "umbrella" is used because it covers liability claims from all insurance policies underneath it, (auto, homeowners, and watercraft...ECT.).
Why purchase an umbrella policy
You may not think you need an umbrella policy, but consider this: What happens to you and your family’s assets should you be sued for something that occurred at your home and the legal costs of the lawsuit greatly exceed the liability coverage defined by your homeowner’s policy? Who will pick up the tab if you are responsible for a multi-car accident and your liability costs exceed the limits on your car insurance by thousands of dollars? Although these kinds of things may seem to be few and far between, you cannot be too careful. Umbrella Insurance is typically purchased at a low cost to you, and will provide enough liability coverage to where you shouldn’t have to worry about liability costs in the future.