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New York State Umbrella Insurance FAQs

What is an umbrella policy?

The nature of a personal umbrella policy is designed to provide bodily injury, and property damage liability coverage in case of a catastrophic claim, lawsuit, or judgement.

Why do I need a personal umbrella policy?

We all know that accidents happen - are you prepared when one happens to you? By purchasing a personal umbrella policy it can protect you if a lawsuit is made against you because someone feels you are legally responsible for an injury due to an accident.

Who does the personal umbrella policy cover?

The policy covers the named insured, spouse, and resident relatives; coverage usually applies worldwide. Because each insurance company has its own forms and rules, there is no standard umbrella policy.

What limits can be purchased on a personal umbrella policy?

The amount of insurance purchased typically ranges from $1 million to $10 million or more.

If I have a claim on my homeowners policy does this policy pay first, or will my personal umbrella policy pay first?

The company in which you have your personal umbrella policy with pays only after the limits of the underlying policies (homeowners, automobile) are exhausted.

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