Personal Umbrella Insurance: What It Is And What It Covers

October 1, 2020

Umbrella insurance is a type of personal liability insurance that covers claims in excess of regular Tampa homeowners insurance, auto, or watercraft policy coverage. It covers not only you as the policyholder, but also other members of your family or household. It does not protect your property, but it does cover injuries to others or damage to their possessions while they are on your property. For example, say throw a party and one of your guests slips and falls down your front porch steps, gets a concussion, and racks up an astronomical hospital bill. They then decide to sue you to cover their $1 million hospital bill, but your homeowner’s insurance has a personal liability limit of only $300,000. Without a personal liability umbrella, you would have to pay the $700,000 difference out of pocket. But if you have $1 million in umbrella insurance, your umbrella policy will cover the portion of the judgment that your homeowner’s insurance doesn’t. Personal umbrella insurance through HH Insurance will help you out if you find yourself in the middle of a contentious and expensive legal battle.

What Umbrella Insurance Doesn’t Cover

Some insurance policies only cover what is specifically listed in the policy, but with HH Insurance umbrella insurance, you receive much broader coverage. However, with that being said, no insurance policy covers everything. Here are some things your umbrella policy likely won’t cover:

  • Damage to your own property – Since it is considered a liability policy, you are not covered under your umbrella insurance if your property is damaged. Only Tampa homeowners insurance covers your personal property and possessions. Umbrella covers damage to someone else’s property or personal belongings.
  • Damage that was caused on purpose – Going back to the example from earlier: If you actually pushed your guest down your front porch steps, umbrella insurance would not cover the costs of the lawsuit or judgment. 
  • Liability related to war or armed conflicts – Financial losses associated with war is never covered under any type of insurance policy because they are too expensive to cover. 
  • Liability incurred in business or professional activities – You will need commercial umbrella insurance to cover any of these types of incidents.
  • Liability you agreed to assume under a contract you signed – If you have previously agreed to liability under another signed contract, then your umbrella insurance will not cover it.

HH Insurance | Tampa Homeowners Insurance Agency

Our agents at HH Insurance will excel at tailoring affordable umbrella coverage policies to protect you and your family against incidents that your Tampa homeowners insurance doesn’t cover. Our umbrella policy can increase your liability coverage above your home, automobile, recreational vehicle, or watercraft limits, and keep you covered when you find yourself in the middle of an expensive legal battle. Contact us today to learn more about the personal umbrella insurance that we offer!