Umbrella Insurance

When it rains, it pours. Don't be caught without an umbrella

get a quote

What is Personal Liability Umbrella Insurance?

​You might think the only people who need umbrella policies are people with lots of assets. Actually, anyone with a job who expects to keep the income they earn, could benefit from having an umbrella insurance policy.
​
What would happen, for example, if someone made a delivery to your house, slipped on a sidewalk recently wet by your sprinkler system, and suffered severe head injuries from the fall. They will sue you, of course.

FAQ

---

What is an umbrella policy?

An umbrella policy adds liability coverage to your existing home and auto liability coverage. It can step in if you don’t have enough coverage. As long as they’re not excluded, the umbrella can also cover some things that home and auto policies will not.

What else does an umbrella policy cover?

This will give you extra protection if you cause an accident and are sued for damages above your liability limit. For instance, say you hit a car carrying 2 surgeons heading to a convention. Because of their injuries, neither of them can work for the next 6 months. They’re each suing you for $2,000,000. Your auto liability insurance limit is $2,000,000. Instead of paying the other $2,000,000 out of pocket, your umbrella will cover it up to a specified limit.

Let’s suppose you fell asleep while cooking and your house is on fire. The fire is out of control and burns down 3 neighboring houses as well as your own. Because you started the initial fire, all 3 homeowners are suing you for damages. Your personal homeowner’s liability limit is $1,000,000, but the total for the 3 suits is $3,500,000. Having a personal liability umbrella could make up the difference so you won’t need to pay it out-of-pocket.

Do I need an umbrella policy?

Everyone can use the additional coverage. Purchasing a car, house, boat, etc. is a big investment and you should protect it to the best of your abilities. The expenses associated with severe accidents can cause serious financial trouble; possibly causing you to lose the asset you’ve worked so hard for. An umbrella policy is an extra layer of protection to reduce this risk.

Do I need to have liability insurance on my house/car if I want an umbrella policy?

Yes. The umbrella policy serves as a back-up plan. You can only use the umbrella once the initial policy has paid to the limit.

Contact Us

(506) 466-3330
78 Milltown Blvd
St. Stephen New Brunswick Canada E3L 1G6
Click Here to Email Us

---

The Guy R Day Difference

​You may think you want the cheapest insurance you can find, but realize you may not be getting everything you bargained for... Most insurance products are similar in price and function, insurance providers are very different when it comes to creating a policy that actually covers you. 

Contact us to learn more about the right umbrella insurance for you.