Umbrella insurance is very useful for anyone who has assets (a home, for example) or earns a living (your future earnings may be attached by a court if you are found responsible for someone else’s damages).

It is particularly important for those who own rent out to tenants on a small scale (larger scale rental operations will be considered a business, and business umbrella insurance is available to cover that). It provides the landlord protection from such legal actions as claims from a fall, a dog bite, or an injury while one is visiting a unit in the rental property.

This type of coverage is designed to be used as an additional level of coverage beyond a standard policy that will respond to the claim (home, auto, or boat, for example). In other words, it is part of an overall program designed to protect a policyholder from potentially enormous out-of-pocket costs.

Coverage amounts are generally available in amounts starting at 1 million dollars. However, there are higher limits available for those who require added protection. The benefits of this coverage include asset protection, a priceless peace of mind, and a relatively low cost for coverage.