Best Umbrella insurance – They can protect your assets from lawsuits.

Best Umbrella insurance - They can protect your assets from lawsuits.

Though it’s never mandated by law, umbrella insurance is a smart move for high-net-worth individuals and companies that face a high risk of litigation. Households with potentially dangerous animals, such as dogs or swimming pools, or with drivers under the age of 18 are examples of this.

Extra coverage beyond that of your primary insurance policies, such as car or house, is what umbrella insurance is all about. It can shield you from claims of negligence that cause physical harm or damage to property, as well as cover legal fees above and beyond what your regular insurance would pay for.

The best umbrella insurance

  • Best overall: Travelers
  • Runner-up: American Family
  • Best for high-net-worth families: Chubb
  • Best for military families: USAA

Best Umbrella insurance - They can protect your assets from lawsuits.

Best overall – Travelers

Travelers has been in the insurance business for more than 165 years and continue to be highly rated for customer satisfaction and financial strength. It boasts an  A++ financial strength rating from AM Best.

Types of umbrella insurance available 

Personal and Commercial

NAIC complaint index (Average is 1) 

0.79, lower than expected

Policy requirements

Not disclosed

Cost

The best way to estimate your costs is to request a quote

Maximum coverage

$10 million

App available

Yes

Policy highlights

A Travelers Umbrella Insurance policy comes with all of the protection you need, covering you at home and abroad. These umbrella policies include coverage for libel, slander, and defamation of character, and legal defense costs.

Pros

  • High enough coverage options for most typical families
  • High ratings for customer satisfaction

Cons

  • Quotes and purchases are not available online

Many families and business owners find Travelers to be a suitable umbrella insurance provider, with coverage options ranging from $1 million to $10 million. Coverage for events that take place outside of the United States can also be facilitated by this.

J.D. Power has given Travelers excellent marks for its home and auto insurance policies, which are based on solid foundations. Another thing that makes Travelers stand out is that their complaint index is below average.

Best Umbrella insurance - They can protect your assets from lawsuits.

Runner-up – American Family

American Family has been insuring families for 90 years, garnering a reputation for strong coverage and excellent customer service.

Types of umbrella insurance available 

Personal, commercial, farm, and ranch

NAIC complaint index (Average is 1)

0.79, lower than expected

Policy requirements

Not specified

Cost

The best way to estimate your costs is to request a quote

Maximum coverage

Undisclosed

App available

Yes

Policy highlights

Personal, business, and farm/ranch insurance are just a few of the many options available from American Family’s extensive umbrella policy lineup. Its home and car insurance ratings are also very high.

Pros

Wide variety of coverage options available.

Cons

Not available in all 50 states.

If you’re looking for umbrella, car, or home insurance, American Family has you covered. For individuals who own farms or ranches, the American Family also provides a special umbrella policy.

Umbrella insurance from American Family is great for individuals who want it all in one package because of the option to bundle coverage.

Best Umbrella insurance - They can protect your assets from lawsuits.

Best for high-net-worth families – Chubb Masterpiece Excess Liability Insurance

When it comes to homeowners, flood, and jewelry insurance, Chubb is a top choice for high-net-worth families, according to CNBC Select.It’s no wonder why; the firm routinely receives rave reviews from satisfied customers. In terms of financial stability, AM Best also gives Chubb a good rating.

Types of umbrella insurance available 

Personal and Commercial

NAIC complaint index (Average is 1)

0.24, lower than expected

Policy requirements

Not disclosed

Cost

The best way to estimate your costs is to request a quote

Maximum coverage

$100 million

App available

Yes

Policy highlights

High coverage limits and a history of satisfied customers are features of Chubb’s Excess Liability Insurance. Coverage is available both domestically and abroad, and it pays for legal representation and defense expenses.

Pros

  • High coverage limits
  • Strong scores for customer satisfaction

Cons

  • Quotes and purchasing are not available online

For individuals who have a lot of assets to safeguard, Chubb’s excess liability insurance is a solid option. Chubb offers liability coverage for residential staff that is specific to employment practices, making it stand out for individuals who have staff in their homes.

Chubb is an excellent option for individuals who may require more coverage than the standard $10 million limit offered by other umbrella insurance policies, as it offers coverage up to $100 million. It provides global coverage and pays for legal representation in the majority of cases.

Best Umbrella insurance - They can protect your assets from lawsuits.

Best for military families – USAA

USAA remains a formidable competitor in the insurance market, even though it is exclusively accessible to active-duty military personnel, veterans, and their families. J.D. Power has given its homeowners’ and auto insurance policies excellent marks for customer satisfaction.

Types of umbrella insurance available 

Personal and Commercial

NAIC complaint index (Average is 1)

1.79, higher than average

Policy requirements

Requires auto insurance policy, minimum limits on auto, homeowners and other types of insurance apply

Cost

The best way to estimate your costs is to request a quote

Maximum coverage

$5 million

App available

Yes

Policy highlights

While only available to military members, veterans, and their families, USAA’s Umbrella Insurance could be a good fit for those eligible who already have auto insurance policies through the company (carrying an auto policy is a requirement for this umbrella insurance). Its auto and homeowners insurance offerings are highly rated for customer claims satisfaction.

Pros

  • Auto insurance through USAA is required, but other insurance companies may be used for other coverages.
  • High ratings for customer satisfaction

Cons

  • Only available to military members and their families

Only active-duty military personnel and their families are eligible for USAA umbrella insurance. On the other hand, USAA’s coverage may be the most customer-centric option for those who qualify.

Unless you live in New York, Pennsylvania, or Hawaii, you must get your umbrella insurance through USAA, which is always a top choice among our auto insurance providers.

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