Umbrella Insurance
Umbrella Insurance with LINDAN Insurance
Shielding Your Assets from Catastrophic Lawsuits.
In today’s litigious world, the liability limits on your standard home and auto policies may not be enough to fully protect your wealth. Personal Umbrella Insurance, also known as Personal Excess Liability, is a crucial secondary type of liability coverage designed to protect your assets—your home, savings, investments, and future earnings—from potentially catastrophic financial claims.
Umbrella insurance acts as a safety net, providing an extra layer of liability protection that “kicks in” when the limits of your primary policies are exhausted by a large settlement or judgment. For a relatively low premium, you can secure millions of dollars in added protection against the unforeseen.
Why Choose LINDAN Insurance for Your Umbrella Coverage?
An Umbrella policy must perfectly align with your underlying Home, Auto, and other personal liability policies. As your independent agents, LINDAN Insurance ensures all the pieces of your protection puzzle fit together seamlessly.
Here are the LINDAN advantages:
The Independent Agent Advantage: LINDAN Insurance is an independent agency. We shop the market for the best price for the liability limits you need (typically starting at $\$1$ million). We work with multiple top-rated carriers who specialize in excess liability, allowing us to find the most cost-effective Umbrella policy that works with your existing primary coverages.
Ensuring Foundation Coverage: Umbrella policies often require your underlying policies (Auto, Home, Boat) to maintain specific minimum liability limits. Our agents will review your entire portfolio to ensure you meet these necessary requirements, maximizing your eligibility and preventing gaps in coverage.
Streamlined Bundling: We simplify your insurance management by coordinating or bundling your Home, Auto, and Umbrella policies. Bundling often results in significant multi-policy discounts, securing high-limit protection without a high cost.
Personalized Risk Assessment: We don’t just sell you a policy; we assess your exposure. If you have significant assets, own rental property, serve on a non-profit board, or engage in high-risk activities, our agents recommend the precise Umbrella limit needed to shield your financial future.
How Umbrella Coverage Works
Umbrella insurance is a secondary policy that is not activated until the liability limits of your primary underlying policy are completely used up.
Primary Policies Pay First: A claim is filed (e.g., a serious car accident where you are at fault). Your auto liability policy pays up to its limit (e.g., $\$500,000$).
The Claim Exceeds the Limit: If the resulting lawsuit or settlement is $\$1.5$ million, the remaining $\$1$ million is still your responsibility.
The Umbrella Kicks In: Your Personal Umbrella policy then pays the remaining $\$1$ million, ensuring your personal assets—like your home equity and savings—are not seized to cover the debt.
What Does Umbrella Insurance Protect You From?
Umbrella insurance expands coverage beyond your primary limits for many claims, including:
Severe Auto Accidents: Where resulting medical bills and lost wages for the injured party far exceed your Auto Liability limits.
Property Injuries: Injuries sustained by visitors at your home, pool, or rental property that result in large lawsuits.
Landlord Liability: Protecting you from claims arising from your rental properties (if the property is properly endorsed under your policy).
Non-Physical Claims: Covers you against claims of libel, slander, false arrest, malicious prosecution, and even emotional distress.
Defense Costs: Pays for legal defense costs and fees associated with covered lawsuits, which can be astronomical even if the claim is ultimately dismissed.