Umbrella

At GLM Insurance, we know you’ve worked hard to get where you are. We understand that if you are found liable in a lawsuit from an auto accident, everything you’ve acquired could be gone. A personal umbrella will give you additional coverage and peace of mind.

What is a Personal Umbrella?

A personal umbrella policy (normally called just an umbrella) provides liability coverage over and above your standard auto or homeowners insurance policy. It kicks in where your other liability limits end. Typically umbrella policies are available in increments of $1 million up to $10 million.

What is covered?

There is no standard Umbrella policy. The coverage, and the exclusions, varies by company. It is important that you compare the costs against the coverage the policy provides. In some cases, it is more important to know what is excluded from coverage. You will also need to know what coverage and limits are required on your auto homeowners and auto policies. Typically an Umbrella policy can provide coverage for Bodily Injury, Personal injury, Property Damage and Landlord Liability.

Bodily Injury

Covers medical costs, loss of income and funeral expenses of other people involved in an accident.

Personal Injury

Covers for event s such as false arrest, invasion of privacy, libel, slander, humiliation, or defamation of another person’s character.

Property Damage

Provides coverage for physical destruction of someone else’s property, including the loss of its use.

Landlord Liability

Covers for bodily injury or property damage of a tenant who resides in your rental property.

 

Should I purchase an Umbrella Policy?

Most people think that you should only purchase an umbrella if you have a high net worth. However, you might want to consider an umbrella if you:

  • Have children
  • Have a dog
  • Travel once a year
  • Own toys – boat, ATV, snowmobile, etc.
  • Own a rental property
  • Coach a youth sports team
  • Hunt
  • Have a pool

 

Are you properly covered?

GLM can help make sure you have the coverage you want to protect your family's assets if the unexpected happens. Contact us about a Personal Umbrella for the added security and we will review your current polices to fill any gaps in coverage.