What is umbrella insurance and how can it benefit you? Umbrella insurance refers to the excess liability cover available over the rest of your insurance policies and potentially other supplementary insurance too. This is normally available at a reduced rate, though, and so is worth investigating further if this type of coverage is part of your current insurance policy.

As excess liability cover is usually more expensive than other types of insurance policies, it’s worth shopping around to find the cheapest policy you can find. You should have an idea of the level of cover you need anyway, so this should be an easy task. It’s also a good idea to get some quotes to see how much difference different levels of cover make.

The cost of umbrella insurance will depend on the level of cover you require and so how much excess you will be asked to pay. The higher the level of cover, the higher the excess and the higher the premiums you are asked to pay. You could be asked to pay up to a million pounds for this excess, but you can always get the level of cover you require elsewhere.

In many cases it’s cheaper to get excess liability cover added to your main insurance, and this would normally be the case where you’ve had a recent claim made against you or have been involved in a serious accident with someone else. There may be circumstances when the claims adjuster will request you to add umbrella insurance to your existing insurance policies to protect you from any additional costs that could result from a claim being made against you. Again, it’s important to check out all the terms of your insurance policy before agreeing to this.

In addition to the premiums you would have to pay for excess liability cover, there may also be excesss that are applied for to your car, home or motorcycle, so you could have to pay for these as well. This is another area where getting a few different quotes should make it easier to see if you can save money by using umbrella insurance over the rest of your insurance policies instead of getting it separately. If you have a good level of cover already, then adding the extra coverage may not make any financial sense.

One benefit of umbrella insurance is that it can help to protect you if you’re involved in an accident and you are involved in some kind of damage, which may not be covered by your vehicle insurance. For example, if you get a claim from your insurer and your car is written off in an accident, you could be protected by this form of cover. In addition to this, you could get compensation for any other losses that arise in a lawsuit and so it is worth checking out whether you can include this insurance in your insurance if you wish.

As with most types of insurance, you should check what is covered and what isn’t. For example, if you have a car and no-claims bonus is in place, this may mean that your excess could be included in your car insurance, but not your home or motorcycle insurance.

The amount of cover you get for umbrella insurance will vary according to the company you use, so you’ll need to do some comparisons on the amount of cover you’re looking for before agreeing a quote for it. If you take a little bit of time to shop around you’ll find that you can often get better value from this type of cover.