Personal Umbrella Liability Insurance

Personal umbrella liability is a form of excess liability that acts as a "second line of defense" to policyholders if they are sued in excess of their base or underlying policy limits. Umbrella Liability will also cover certain additional perils which may not be included in personal liability forms such as libel, slander, defamation of character or invasion of rights or privacy, false arrest, liability assumed under some contracts and liability incurred as the result of volunteer work in a non-profit organization.

Umbrella Liability provides excess coverage to several different "personal insurance" policy types such as property, auto and watercraft. Coverage under an Umbrella policy applies to losses anywhere in the world except owned secondary residence(s) and Automobile(s), which are restricted to losses within Canada and the United States only.

Under the Group plan though Waterloo Insurance, the Umbrella package premium includes excess liability coverage for the following *:

• 2 residences, owned or occupied by the insured
• Incidental office in the residence, owned or occupied by the insured
• One watercraft, owned, hired or operated by the insured. Maximum length is 30 feet and maximum horsepower is 50hp.
• Two automobiles (excluding motorcycles) owned, leased or regularly used by the Insured
• One recreational vehicle (excluding motorcycles) owned, leased, or regularly used by the insured

Policy Limit Approximate     Annual Premium

     $1,000,000                    $ 90.00
     $2,000,000                    $135.00
     $3,000,000                    $162.00
     $4,000,000                    $180.00
     $5,000,000                    $198.00

* In many cases coverage for additional items can be added for an additional premium.

It is a sad fact that lawsuits are becoming an all too common and costly occurrence in today’s society. As Canada continues to lean toward the American example of "go big or go home" lawsuits for injury and damage, it is essential that we do all we can to avoid being literally sued for everything we have.

** The information provided herein in intended to provide general information and not to replace the professional advice of your insurance broker. Should you have questions pertaining to your specific needs, please contact our office