Personal Umbrella Insurance in California: When Liability Limits Need a Second Layer
From Speaking of Insurance · 16:36
Show by Brian Bollinger, Aaron Bollinger
What happens when a claim climbs past your home or auto liability limits? Aaron explains the personal umbrella as a second layer of liability on top of home and auto. He covers how carriers look at underlying limits, using an auto policy at 100/300/50 as the example, and how the umbrella protects both you and the underlying insurer. He walks through households with pools, trampolines, a dog with a bite history, and teen drivers. He explains why dogs with a bite history are hard to cover, and why rental properties, watercraft, and RVs need to coordinate with the umbrella. He finishes with teen drivers on their own low-limit policies and what to bring to a broker review. What we cover: When home and auto liability limits may need a second layer Underlying limit requirements at a high level Common umbrella trigger points for California households How to brief a broker for an umbrella review Resources: All Speaking of Insurance episodes Read the guide: Personal umbrella and asset protection in California Companion article: Personal umbrella liability limits in California Get quoted: Compare coverage options with Bollinsure Insurance Services at www.bollinsure.com/quote, or call 562-268-9355. CA License 6013787 This episode is for general education only and is not legal, tax, or coverage advice. Coverage, eligibility, and pricing depend on the carrier, underwriting, and your policy terms. Chapters 00:00 Welcome: the biggest liability gap in California 02:17 What an umbrella is, and what it is not 02:38 Example one: auto limits that felt fine 05:02 Underlying limits: a 100/300/50 auto policy 07:21 How the umbrella protects you and the underlying carrier 09:42 A free broker review 12:07 Watercraft, RVs, and rental properties 14:25 Teen drivers on their own policies 16:28 Wrap up Key terms Personal umbrella: excess liability above home, auto, and other underlying policies. Often an ISO DL 98 01 or a carrier form. Underlying limits: the liability limits the umbrella requires on your HO-3 (ISO HO 00 03) and personal auto (ISO PP 00 01). Split limits such as 100/300/50: $100,000 bodily injury per person, $300,000 per accident, and $50,000 property damage. Follow form: for many claims, the umbrella follows the underlying coverage. Exclusions: umbrellas commonly exclude business pursuits and professional services. Many exclude or limit dogs with a bite history. Scheduled exposures: rental properties, watercraft, and RVs need their own policies and must be listed with the umbrella carrier.
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