If a serious accident occurs on your boat, at your home, or in your vehicle and you're held liable, you may have inadequate coverage your existing insurance policy limits run out. This is where umbrella insurance can step in and supplement your coverage.
An umbrella insurance policy covers you when you've exhausted other existing policy limits but remain liable for additional monetary damages. This is important in situations involving lawsuits. A ruling can be so far beyond what you have on hand or even in savings that your umbrella policy is the only thing between you and financial ruin.
Umbrella insurance covers you with additional protection in many situations. They include some of the following: