Umbrella Policies

What is an Umbrella policy?

An umbrella insurance policy is a policy that provides additional liability insurance in case your primary insurance policies’ liability limits are not sufficient. For example if you injure somebody in an auto insurance policy and you have coverage up to $250,000 bodily injury liability coverage for each person. If the $250,000 is not enough and you are still liable for their injuries your umbrella policy’s coverage will kick in. This will also be the case if you are liable for another party’s bodily injury and or property damage and your personal liability coverage on your homeowners policy is not enough as well. Since it provides additional coverage over all your existing primary policies it is called Umbrella insurance. Umbrella policy provides an additional $1 million to $5 million liability coverage over your existing primary policies liability coverage.

Do I need an Umbrella policy?

If you have assets that you will like to protect… Yes!! The worst case scenario will be that you will have to sell your liquid assets to take care of a claim because you did not have enough liability coverage. Therefore, the people who should be interested in an umbrella policy is someone who own property (especially if paid off) and/or has multiple properties. For only a few hundred dollars a year (which is nothing compared to the amount of coverage you are obtaining ($1 million dollars is a lot!!)) you are really protecting yourself from a potential financial disaster.

Do I qualify for an Umbrella policy?

To qualify for a Farmers Umbrella Insurance policy we need to have all yours policies that you want the umbrella policy to cover with Farmers. We also have to have your underlying liability limits up to a certain level. This is so an insured can not carry low minimum limits of liability and have an umbrella policy over that. The minimum levels of liability necessary to qualify for a Farmers Umbrella Insurance policy is $250,000 per person and $500,000 per occurrence for bodily injury liability and $100,000 liability limit for property damage on your auto insurance policy. (However, you do obtain a much better rate on your umbrella policy if you increase your bodily injury per person to $500,000). For your homeowners policy and for your rental property polices your personal liability coverage has to be at least $300,000. (Again you can obtain a better rate on your umbrella policy if you increase your personal liability coverage to $500,000)

How can I obtain an Farmers Umbrella policy?

Talk to the umbrella experts at the Talarico & Junge Agency! Our goal is to help make insurance easy to understand and to protect you from any extreme and unfortunate situations that may occur in the future. Remember just a few hundred dollars a year gives you at least an additional $1 million worth of liability coverage. How much are you covered up to today?

Please call 716-389-2422, email us at, or stop by our office to see how you can protect yourself with an Umbrella Insurance policy from Farmers!