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Stay Protected from Life’s Biggest Surprises
Umbrella insurance acts as a safety net, stepping in when your auto, home, boat—or even rental property—liability limits aren’t enough. In Florida’s high-risk environment, serious accidents like car collisions, pool injuries, defamation claims, or lawsuits from vacation-rental guests can quickly lead to settlements and legal fees that exceed standard policy caps.
Why You Need Umbrella Insurance in Florida
- Extra Liability Coverage
- Policies begin at $1 million and stack on top of your primary insurance, safeguarding your assets from large judgments.
- Broader Scope of Protection
- Covers lawsuits that basic policies often exclude—like libel, slander, false arrest, invasion of privacy, malicious prosecution, and mental anguish.
- Global Coverage
- Extends protection even when traveling internationally, operating abroad independent of underlying auto or home policies.
Who Should Consider Umbrella Insurance?
You’re a strong candidate if you:
- Own assets like your home, savings, investments, or have a high net worth (umbrella limits should ideally match your net worth).
- Own high-risk items (e.g., pool, trampoline, dog, boat) or rent properties.
- Have professions or lifestyles that increase the chance of legal claims.
How It Works (Florida Applicants)
1. Primary Policies First
Umbrella policies only activate after your auto/home liability limits are used. For example, after a $500k car-liability payout, your umbrella kicks in for remaining amounts.
2. Minimum Underlying Coverage Required
Most Florida insurers require auto liability limits of around $250k/$500k per accident and home liability of $300k before offering umbrella coverage.
3. Self-Insured Retention (SIR)
Some umbrella claims for risks not covered by primary policies (like libel) may require a small deductible—often around $1,000—before umbrella coverage begins.
What's Covered—and What’s Not
Covered:
- Excess liability for bodily injury and property damage
- Legal defense fees and court costs
- Personal injury claims (libel, slander, defamation)
- False arrest, detention, or malicious prosecution
- Worldwide incidents and landlord/rental exposures
Not Covered:
- Intentional or criminal acts
- Business-related liabilities (use business umbrella if needed)
- Primary policy gaps that don't meet SIR (e.g. excluded risks)
Cost & Value
- Affordable Protection
- In Florida, a $1 million umbrella policy typically ranges between $150–$300 annually, with each additional million costing an extra ~$75–$150.
- High ROI
- Defense fees alone can exceed the cost of a policy. Umbrella coverage protects against wage garnishment or draining your retirement savings Florida Risk Partners.
FLB’s Umbrella Insurance Advantage
1. Free Risk Evaluation
We review your assets, lifestyle, and underlying coverage to determine optimal umbrella limits.
2. Carrier Shopping
We source competitive quotes tailored to your needs from top insurers.
3. Policy Customization
Add-ons like rental liability, enhanced personal injury, or international coverage can be included.
4. Continual Advocacy
From setup to renewal and through claims—our team is in your corner.
FAQs
How much coverage is enough?
A good rule of thumb is coverage equal to your net worth. Many clients start with $1 million and scale based on asset size and risk.
Do most people actually need it?
Even if you rarely file umbrella claims, many say:
“You’ll likely never use it, but if push comes to shove… you’d really regret not paying such a party sum annually to have it.”
Add the Coverage You Need—Before You Need It
Call FLB Insurance Agency now to explore affordable umbrella coverage that protects your assets and future.
