Personal umbrella insurance casts a wide safety net across many potential situations or circumstances. In general, these policies exist to provide additional financial aid for incidents your standard homeowners, auto or boat insurance are not capable of fully covering. As such, they won’t be triggered unless your liability limits are exhausted.
Specifically, most personal umbrella policies include protection for:
Bodily injury—If you are responsible for another party being hurt, your coverage may help pay for resulting medical treatment, lost income and funeral expenses.
Property damage—If another party’s property is damaged and you are held liable, your insurance can assist with repair or replacement costs.
Personal and advertising injury—If you are sued for personal and advertising injury, such as libel, slander, invasion of privacy or defamation of character, this type of coverage can provide financial aid.
Legal expenses—If a lawsuit is filed against you, your personal umbrella policy can help pay for your legal defense and representation.