Umbrella Insurance

OceanPoint Insurance has partnered with a selection of the top-performing insurance carriers to provide you with the best possible coverage.

Our team will take the time to understand your specific insurance needs and will provide you with a umbrella insurance policy at competitive rates.

Supplemental Liability Coverage In Rhode Island & Southern New England

Personal umbrella insurance provides liability protection over and above the insurance policies that you currently have, with additional benefits: – Liability protection for claims not covered in your existing homeowners, auto, or boat insurance policies

  • You have liability coverage anywhere in the world
  • Legal fees for claims that are not covered in your other insurance policies; these expenses will be paid in addition to your policy limit.

These benefits also extend to rental property owners who have renters’ policies.

Additionally, umbrella insurance covers the policyholder and other members of their family or household.

Umbrella insurance provides coverage above and beyond your base insurance policies (auto, boat, homeowners, and renters); the claim against you doesn’t have to involve your property or vehicle or boat for your umbrella insurance to cover it.

Umbrella insurance provides you with liability protection wherever you travel in the world, except homes and cars you own under other countries’ laws.

How Does Umbrella Insurance Work? 

Personal umbrella insurance provides liability protection over and above the insurance policies that you currently have.

umbrella insurance

If you get sued and settle for $1,000,000, your deductible will be $1,000 for the policy involved (auto or homeowners in this example).

  • The umbrella policy will pay: $700,000
  • Your base policy will pay : $299,000
  • You pay your deductible: $1,000

Do You Need Umbrella Insurance? 

Considering the following scenarios, if you can relate to any of these then you should consider umbrella insurance.

  1. While driving in the winter months, an insured’s teenage daughter spun out on an icy intersection and hit a pedestrian crossing the street. The pedestrian was hospitalized with multiple injuries and high medical bills.
    The pedestrian’s legal and medical fees exceeded the insured auto insurance policy’s liability limits, the umbrella policy covered the excess.
  2. While playing paintball in the yard, with the homeowner’s permission, the homeowner instructed the teenagers to wear safety equipment at all times; a player was hit in the eye with a paintball while removing his headgear as he exited the field of play.
    The umbrella policy covered the $550,000 claim; the insured homeowner’s liability coverage was $300,000.
  3. While hosting a ‘non-alcoholic’ party for their teenage boy, one of the guests secretly brought in alcohol without the homeowners’ knowledge.
    After the party, a departing guest’s vehicle was involved in an accident, injuring the guest. Alcohol consumption was considered the cause of the accident.The parents of the injured guest sued the homeowner, and the umbrella policy covered the legal fees and the cost of the suit.
  4. While driving on the highway late at night, the insured drifted out of his lane and hit an oncoming car. The insured was entirely at fault; unfortunately, the insured’s auto insurance policy’s liability limit did not cover the cost of the claim.
    With no assets to claim against and the absence of an umbrella insurance policy, his future wages were garnished for eight years.
  5. The 6-year old son of the insured had some friends over for a play-date. During the play session, the family pet dog snapped at and bit one of the young guests. The child was rushed to the hospital and required reconstructive surgery.
    The parents of the child sued the homeowner and settled for $3,000,000.
  6. A tenant of the insured became ill, had breathing difficulties, and lost part of her lung capacity. The cause was a black mold found in her apartment. As a result of this illness, she lost her 4-year college scholarship and her future as a gymnast.

    She sued for $750,000; the landlord had $500,000 liability coverage on his renters’ insurance, and his umbrella policy covered the excess.
  7. On Prom night, a group of friends gathered at the insured’s house. To take a photo, the group posed for the picture on the home’s deck, which partially collapsed under the weight of the group resulting in injury to multiple prom-goers.
    The parents of the injured prom-goers sued the homeowner for a settlement that exceeded the homeowner’s home insurance policy liability covered; fortunately, the insured had an umbrella policy that covered the claim in full.

The above scenarios illustrate why liability coverage is essential and why you may not have enough liability coverage on your auto, boat, homeowners, or renters’ (if you are a landlord) insurance. A simple, innocent accident can result in your liability coverage being exhausted and being in financial difficulty.

Our Homeowners Insurance Partners

American Reliable
Andover Insurance
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RI Contractors Insurance
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RI HVAC Insurance
RI Plumbers Insurance
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RI Contractors Insurance
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Union Mutual

Request Your Umbrella Insurance Policy Quote Today!