Umbrella insurance is a form of supplementary coverage that offers you extended protection over and above the basic third-party liability provided by your existing insurance policy.
In fact, depending on your reality, the amounts allocated by your policy could prove insufficient. Umbrella insurance has the advantage of offering a broader scope, covering losses, accidents and certain events not covered by your basic policy.
Contact one of our advisors to create a complete profile with you, so you can find out if umbrella insurance applies to your reality.
Umbrella insurance is of interest to people whose civil liability could exceed the limits of their basic insurance policy. For example, if you are sued for a car accident and the damages exceed the liability limit of your auto insurance, umbrella insurance can protect you financially by covering the costs that exceed that limit.
Umbrella insurance is an option to consider if :
You have significant assets to protect
You have investment accounts
You own several properties
You work in a high-risk profession
You travel
You own a swimming pool, a boat or high-value recreational vehicles
You do volunteer work
You sit on a board of directors
You have young children, or teenagers who drive a vehicle
If you're at fault in an accident that causes injury to others, and your auto insurance liability limits aren't enough to cover the damages, your umbrella insurance will provide the protection you need.
If you're sued for libel or slander, umbrella insurance can help cover the legal fees and damages caused.
If you're involved in an accident caused by an uninsured third party, your umbrella insurance will provide additional protection to cover damages and medical expenses.
If you're traveling abroad and are involved in an accident, your umbrella insurance will enhance your basic travel insurance by providing additional protection to cover certain damages and medical expenses.