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Started By
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Any advice on a Personal Liability Policy vs an Umbrella?
Posted on 6/8/23 at 10:06 pm
Posted on 6/8/23 at 10:06 pm
I need to up the overall protection to sleep better in today's crazy world. $300k currently for cars, house & rental property. Rental & cars with USAA, House going there upon expiration.
Can get umbrella reasonably cheap, but considering a personal liability policy.
Any advantages?
I'm obviously not an insurance guy and wanted insight before I call an insurance broker...
Thoughts?
Can get umbrella reasonably cheap, but considering a personal liability policy.
Any advantages?
I'm obviously not an insurance guy and wanted insight before I call an insurance broker...
Thoughts?
5
Posted on 6/8/23 at 10:38 pm to Klondikekajun
Your personal liability coverage comes from your homeowner policy
The umbrella is an excess policy on top of all those other policies (homeowners, auto, boat, rental property, RV, motorcycle, etc) that covers if you’re held liable for an amount higher than what the primary underlying policy covers.
Get an umbrella
The umbrella is an excess policy on top of all those other policies (homeowners, auto, boat, rental property, RV, motorcycle, etc) that covers if you’re held liable for an amount higher than what the primary underlying policy covers.
Get an umbrella
Posted on 6/9/23 at 11:38 am to Klondikekajun
The umbrella policy covers you over and above your personal liability policy. Get both. The umbrella is cheap because it is like having a policy with a gigantic deductible that will rarely come in to play.
Posted on 6/9/23 at 5:34 pm to Klondikekajun
They are the same thing.
Personal liability policy is the official name.
Umbrella is the layman vernacular.
Personal liability policy is the official name.
Umbrella is the layman vernacular.
Posted on 6/10/23 at 12:29 pm to Klondikekajun
Thanks for the insight....
Still a little confused thought.
Will an umbrella by the carrier that covers rental property & autos cover excess liability related to incidents at my residence (different insurer)?
i.e. does the umbrella sit over unrelated policies?
Still a little confused thought.
Will an umbrella by the carrier that covers rental property & autos cover excess liability related to incidents at my residence (different insurer)?
i.e. does the umbrella sit over unrelated policies?
Posted on 6/10/23 at 3:18 pm to Klondikekajun
It’s pretty cheap. Especially as you get older and have more assets at risk it makes a lot of sense
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