Purpose of Umbrella Policy for Car & Home Insurance

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An umbrella policy for car and home insurance is designed with a very specific purpose in mind. Learn about the purpose of an umbrella policy for car and home insurance with help from an independent insurance agent and small business owner in this free video clip.

Part of the Video Series: Auto Insurance
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Video Transcript

This is Melissa Morley with All Seasons Insurance, and today we're talking about the purpose of an umbrella policy on your home and auto. Many people call me up and they ask me, what is an umbrella policy? My neighbors say that I need to have one. An umbrella policy is an increase in your coverage. When you understand the basics of insurance, and that insurance is about covering your assets, what are you worth, and if you find that you're worth more than say half a million dollars, if your combined assets are larger than half a million dollars, most auto policies stop at that amount, you can consider having an umbrella policy. An umbrella policy you can purchase in the amount of one, two, three, four or more million dollars. An advantage of having an umbrella policy is that it actually extends and creates better coverage for you. It is rated on how many cars you have, if there's teenage drivers, if you have RVs, boats, but they're really a good thing to consider when you are putting together a comprehensive protection of your assets. This is Melissa Morley, with All Seasons Insurance, and today we've been talking about personal umbrella policies.

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