Umbrella insurance is available as supplementary insurance for virtually any kind of personal insurance policy, including business, home, car, motorcycle, rental, et cetera. Its purpose is to pay any expenses that are not covered by your primary insurance policy, including some scenarios that may be excluded, and legal judgments that run in excess of your policy limits. Umbrella insurance is always a good idea, especially if you feel that your primary insurance does not provide you with the full extent of coverage you?d really like.
You can purchase umbrella insurance from any broker or company that deals with that particular variety of insurance. The best place to start is with your existing insurance company. Most of the time you can get a reduction in rates by purchasing more than one policy from the same company, and they will already have all the information on your existing coverage. Start by calling them up and talking to a representative about their options for umbrella policies. You need to know two main things: what the policy limits are, and what the exclusions and restrictions are. If possible, purchase a policy with fewer exclusions and restrictions than your existing one, providing you with more comprehensive coverage. If there is a specific coverage gap that you are concerned about?a particular type of peril that is excluded, say, then ask about it. In car insurance, for instance, you may know that your policy covers theft of the car or items that are considered part of the car, but not of any possessions left in the car. If that worries you, find an umbrella policy to cover that gap.
Because umbrella insurance is only secondary insurance, it is often cheaper to purchase it than to extend your primary policy to cover all these things. You may ask for a price comparison from your insurance company if you like. If, for some reason, you decide not to purchase your umbrella policy from your current company, there are dozens of others out there ready and willing to sell you a policy. Know what you want, shop around, and find the best available.
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Source: http://insurance-group-health.net/life-insurance-protects/who-sells-umbrella-insurance
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