Umbrella Insurance in Cincinnati

Are you looking for an umbrella insurance policy in Cincinnati? Call 513-662-7000. We offer both commercial umbrella insurance and an umbrella for your personal insurance needs.

What Is an Umbrella Insurance Policy?

An umbrella policy is simply an extra layer of insurance coverage that sits on top of your base coverage provided by your car, home/condo/renters, boat, motorcycle, or ATV insurance.

The umbrella insurance policy may be used when the underlying liability limits have been exhausted.

Let’s review an Umbrella Insurance Scenario:

Your newly licensed 16-year-old son, because of a lack of experience causes a car accident and injures two people. The first person suffered only minor injuries but the second person named Bobby was seriously injured and suffers a permanent disability due to the car accident and can no longer work at his profession.

Bobby files a lawsuit against you as the parent, seeking $2 million due to his injuries and his loss of employment income. A judgment is assessed against you for $2 million.

This Is How an Umbrella Insurance Policy Works

Let’s assume that your base coverage limits of your car insurance policy are $500,000. (Many companies require a minimum of $250,000 per person, $500,000 per accident coverage for liability insurance. In this instance we’re assuming that the company required $500,000 in combined single limit liability coverage.)

So in this instance the $500,000 of base liability coverage on your car insurance policy goes toward the $2 million judgment and at that point your umbrella policy kicks in.

If you have a $2 million umbrella policy, $1.5 million is paid from the umbrella making a $2 million payout.