Maryland Personal Umbrella Insurance
Balderson Insurance is an independent agency focused on providing premium personal umbrella insurance in Maryland. We work with several of the top insurers in the state to find the best coverage to suit the needs of each client we serve. For questions or to discuss your Maryland umbrella insurance needs, give us a call at (301) 874-0772.
Personal Umbrella Insurance Basics
Auto owners and most homeowners in Maryland are required to carry insurance on their vehicles and dwellings. A very important part of this policy is liability insurance. Liability covers personal injuries to third parties (either on or off your premises) caused by you or your family members. But typical auto and home owner policies have maximum liability limits of $500,000.
If you need protection beyond the liability maximums of most auto and homeowners policies, umbrella insurance is a relatively inexpensive way to obtain this coverage. An umbrella policy provides additional liability coverage in $1 million increments, offering an extra layer of protection for covered individuals. In addition, umbrella insurance is more comprehensive than standard policies, offering coverage for additional incidents such as libel and slander.
The umbrella policy is not a replacement of the liability coverage in your standard policies. Rather, it “kicks in” after the other coverage limits are exhausted. For example, if you have $500,000 in liability coverage on a home owner policy and a $1 million umbrella policy, your total liability limit for covered situations is $1.5 million.
Maryland Umbrella Insurance Coverages
A personal umbrella insurance policy in MD covers the following:
- The operation of most motor vehicles; e.g. cars, trucks, motorcycles, ATVs, RVs, and most personal watercraft.
- Liability claims involving property that is covered under your standard homeowner insurance policy.
- Liability claims for a business if it is already covered by your standard homeowner policy.
- Allegations of slander, libel, invasion of privacy, defamation of character and false arrest.