Personal Umbrella

In an incident when operating a business-owned and insured vehicle, there was personal liability once the business auto policy paid the full limit.

Differences between federal and state record retention rules as well as those included in carrier contracts may lead to uncertainty.

If an insured has a $1-million, combined single limit (CSL) on an auto policy and they exhaust the auto CSL and the umbrella limits, would the limit for the umbrella be reset for any other loss?

Knowing how a personal umbrella policy fits into your client’s lifestyle is key to understanding why you should offer one. Here are four ways agents can help ensure clients are covered with a personal umbrella policy.

“I envision consumers will continue to realize the importance of an umbrella policy,” says independent agent Taylor Justice. “I have personally seen a large increase in young individuals wanting to protect themselves with a personal umbrella policy after

Umbrella coverage offers additional protection for those who want increased limits or to fill insurance gaps. The pandemic has accentuated certain trends leading to increased claims and a hardening of rates.

Nobody is requiring your clients to purchase a personal umbrella policy, which makes it unlikely that they’ll ask you about the coverage. Here are four ways to start the conversation—and keep returning to it.

Independent agent Priya Arora finds that many of her clients think they don’t need the added protection that a personal umbrella provides. “They don’t like to think about lawsuits, but they need to be educated about the risk,” she says.

Among the most common personal umbrella myths is the idea that this type of policy is only for the wealthy.

As personal umbrella carriers grapple with rising severity, here are three consequences you can expect for your agency’s personal umbrella book.