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Education Center

Umbrella Insurance

Understanding Umbrella Policies

Umbrella insurance is extra liability insurance that covers you beyond what your auto, boat or homeowners insurance covers. An umbrella policy is designed to protect your assets from major claims and lawsuits. Policies are available in amounts ranging from one to five million dollars.

Why You Might Need an Umbrella Policy

Homeowners and auto insurance policies have liability limits, meaning that your policies will make payments up to the amount stated in your contract. After that limit is reached, you’re personally responsible for any expenses on a claim or as the result of a lawsuit.

For example, if you’re at fault in a car accident that injures another person, you would be held responsible for their medical treatment. If the bills add up to $500,000 but your policy limit is only $150,000, you would be responsible for paying the remaining $350,000. An umbrella policy would help cover these expenses, protecting your bank account, home and personal property.

Coverage Provided

Umbrella coverage provides coverage for:

  • Personal Injury (slander, libel, wrongful eviction or false arrest)
  • Bodily Injury
  • Property Damage
  • Landlord Liability
  • Legal Defense Costs

Insurance products are:  Not Deposits; not offered as a condition to any Bank loan, payment, or service; not FDIC insured; not Bank guaranteed; and may go down in value.

HomeStreet Insurance Agency and HomeStreet Bank are affiliates; HomeStreet Insurance Agency is a division of HomeStreet, Inc., while HomeStreet Bank is a wholly owned subsidiary of HomeStreet, Inc. Due to the relationship, any referral may provide HomeStreet Bank with a financial or other benefit.

Shopping for umbrella insurance?

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