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Umbrella Policies Protect Your Assets

If you have assets, you need an umbrella policy. Sometimes called excess liability insurance, it protects your assets from lawsuits stemming from claims relating to your car and home. The $1 million mark is typically the minimum for which an insurer will write a policy. It will pay for legal costs, provide protection should a judge rule against you in a case, and cover your attorney fees.

You’re covered for a specific amount you ordinarily have on your vehicles, home, renter or condo policies. Umbrella policies take over when you’ve reached the limit provided through home and auto insurance. A $1 million umbrella policy doesn’t mean that you have that much in assets, it reflects the monetary protection you’ll have when home and auto policies have paid their maximum amount.

The cost of an umbrella policy varies by insurance company and the area of the country in which you’re located, but one can usually be purchased for $150-$300 per year. It’s recommended that anyone with $300,000 or more in savings obtain an umbrella policy. Umbrella insurance isn’t required, but it’s especially beneficial for anyone that:

  • Owns property
  • Has a dog (make sure your breed is covered, some aren’t) or other dangerous pet
  • Is a landlord
  • Rents vehicles, watercraft, motorcycles, dune buggies, ATVs, etc.
  • Has a substantial amount of savings or other types of assets
  • Has a swimming pool, trampoline, stairways, or elevated decks
  • Engages in activities and sports that could lead to the injury of another
  • Posts reviews of businesses or products, such as social media influencers
  • Performs volunteer work
  • Coaches children’s sports
  • Serves on the board of a non-profit organization
  • Travelers outside the U.S. that could inadvertently trigger a liability claim

In a society where people are quick to sue for even imagined damages, an umbrella policy makes good sense. No one is free of the threat of a civil suit and an umbrella policy protects your assets in a variety of situations.

For more information about how The Sena Group can help you with any

of your insurance needs, please contact us at 561-391-4661.

We can be found on Social Media at the following links.


The Sena Group
6501 Congress Ave., Ste. 100
Boca Raton, FL 33487