Umbrella Insurance in Washington, DC

Experts break down umbrella insurance costs, coverages, companies, and more in Washington, DC.

Written by Sara East
Written by Sara East

Insurance doesn’t have to be boring. That’s why we hired Sara East to be our BA insurance writer. Maggie specializes in making mundane subjects hella-entertaining.

Reviewer: Jeffrey Green Reviewed by Jeffrey Green
Reviewer: Jeffrey Green
Reviewed by Jeffrey Green

Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career.  He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.

Second Italian Renaissance Revival Style Row House Homes, Washington DC. Find Washington DC umbrella insurance.

If you reside in Washington, DC and have a high net worth or valuable personal assets, you will want to protect yourself from liability lawsuits. People are sued every day for various reasons, from personal injury to mental anguish. One way to protect yourself if you're sued is with an umbrella insurance policy.

Umbrella insurance is a unique type of coverage, and there are several things to consider before you purchase. A local independent insurance agent is the best place to get answers to your questions and learn whether you could benefit from an umbrella policy. Agents in Washington, DC are located across the district and can assist you wherever you live.

What Is Umbrella Insurance?

When you purchase basic insurance coverage, such as homeowners insurance or auto insurance, it will come with a certain amount of liability coverage. Liability insurance helps pay for third-party injury, property damage, libel, or slander costs. Umbrella insurance is an extension of this liability coverage.

If you're sued, umbrella insurance will provide coverage after you've exhausted your basic liability limits. If you had $250,000 worth of liability coverage in your homeowners insurance and owed $750,000 in restitution fees, your umbrella policy would pay the additional $500,000 you're financially obligated to.

What Does Umbrella Insurance Cover for Washington, DC Homeowners?

A variety of things can go wrong when someone is visiting your property. Someone could slip and fall while walking onto your patio, a dog could bite a guest, or your child could hit a baseball into your visitor's car window. If the injured person or owner of the vehicle wanted, they could sue you for the damage. 

If you're sued for an event that takes place in your home, umbrella insurance will cover:

  • Medical bills and other associated injury costs
  • Legal fees
  • Court fees, including restitution costs and judgment fees
  • Costs associated with libel or slander claims
  • Funeral costs

Umbrella insurance does not cover intentional damage or injuries or personal injuries and property damage.

What Does Umbrella Insurance Cover for Washington, DC Car Owners?

The coverages for umbrella insurance for car owners are the same as for homeowners. If you're in an at-fault accident that causes property damage or injury to someone else, your umbrella policy will step in to cover medical bills, legal and court fees, and other costs once you've exhausted the liability limits in your auto insurance.

In Washington, DC, liability coverage is required by law for all auto drivers. Anyone with a registered vehicle is required to carry a minimum of $25,000 bodily injury liability per person and $50,000 per accident. Property damage liability limits are $10,000 per accident. Of course, you can purchase more than this, which is always encouraged. Auto liability insurance coverage usually maxes out between $300,000 and $500,000, depending on your insurance provider.

Who Needs Umbrella Insurance in Washington, DC?

If you own a home or vehicle, it's likely that you already have some liability protection. However, the limits of this coverage are often not enough in a major lawsuit. Regarding who needs umbrella insurance, the more assets you have, the more you have to lose. No matter what you're sued for, once a civil lawsuit is filed, everything you own could be up for grabs.

The most common types of individuals that can use an umbrella policy include:

  • Landlords
  • Homeowners
  • Public figures
  • Business owners
  • Parents

For various reasons, the above people tend to be more at risk. Unfortunately, those with many assets tend to be the target of lawsuits. If you don't fall into one of the above categories, that doesn't mean you won't benefit from an umbrella policy. A local agent can help you decide if umbrella insurance is right for you.


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How Much Umbrella Insurance Do I Need in Washington DC?

Before you can purchase an umbrella insurance policy, you'll be required to purchase a certain amount of liability coverage through your home and auto insurance policies. Most insurers will require you to max out your liability coverage or purchase at least $250,000 of liability insurance on your auto policy and $300,000 of liability insurance on your homeowners policy.

If your carrier does offer you umbrella insurance, it is usually sold in $1 million increments. To determine how much umbrella insurance to purchase, ask yourself the following:

  • What financial risks do I face if someone sues me?
  • What is my total net worth?
  • Do I have any potential loss of future income if I'm sued?

Certain people will have more risks than others, which is where an independent agent can help. They'll look at your assets and net worth and help you determine how much umbrella insurance coverage to purchase.

Can You Deduct Umbrella Insurance on Your Taxes in Washington, DC?

Unfortunately, you cannot deduct the premiums you pay on your umbrella insurance on your taxes in Washington, DC. When purchasing umbrella insurance as an extension on your homeowners or auto insurance, it's considered a personal insurance policy. Personal insurance premiums cannot be deducted from taxes.

There is one instance when you can write off an umbrella policy, and that is if you're a business owner who has purchased a business umbrella policy. Business insurance premiums can be deducted from your taxes. 

What are the Best Umbrella Insurance Companies in Washington, DC?

Shopping multiple companies is the best way to save money on your umbrella insurance policy and make sure that you're working with a top-rated carrier. When searching for the best umbrella insurance companies in Washington, DC you want to look for a provider that has a reputation for quality customer service, reliable coverage, and an easy claim process.

Fortunately, local independent insurance agents have worked with carriers across the district that offer umbrella insurance. They'll know which companies have a solid reputation and are convenient to work with for coverage.

Why Shop Umbrella Insurance with a Washington, DC Independent Insurance Agent?

Shopping umbrella insurance quotes in Washington, DC takes time and knowledge about purchasing insurance. Working with an independent insurance agent aligns you with an expert who can answer any questions you have and guide you in your purchasing decisions.

If you're looking for added liability protection, an agent will speak with you free of charge. They'll learn about your situation and pull multiple insurance quotes for you. They'll walk you through each quote and make recommendations for finding the best umbrella insurance coverage in Washington, DC.

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