Florida Personal Umbrella Insurance
Get a full analysis of Florida personal umbrella insurance costs, coverage, and companies.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
Find the Best Personal Umbrella Insurance Options in Florida
These days, million-dollar judgments for bodily injury claims are not uncommon. If someone is injured on your property or if you cause a car accident, would your home or auto insurance cover a major settlement if you're sued?
The extra liability protection offered by umbrella insurance in Florida can provide the peace of mind you need.
Umbrella insurance bridges the gap between your basic personal insurance policies and a million-dollar judgment against you. An independent insurance agent in Florida can help you find umbrella insurance that fits your needs and budget.
What Are the Best Personal Umbrella Insurance Companies in Florida?
There are a lot of options for personal umbrella insurance in Florida. We recommend the following as some of the best umbrella insurance companies in Florida.
- Progressive: Progressive is based in Ohio but offers personal umbrella insurance across all 50 states, including Florida. Florida residents can look to Progressive for most of their personal insurance needs.
- Nationwide: Nationwide provides personal umbrella insurance and other popular types of personal insurance coverage in Florida. The company is headquartered in Columbus, OH, and is represented by independent insurance agents in 50 states.
- Travelers: Travelers offers highly-rated personal umbrella insurance in Florida. It can meet your additional personal insurance needs with a full line of products, including home, auto, boat, identity theft, and other coverages.
- Safeco: Safeco has been protecting individuals and families since 1923. The company offers personal umbrella insurance in Florida, as well as a comprehensive range of other personal insurance policies. Working through independent agents, Safeco makes it easy to get the best mix of coverage and pricing.
- Stillwater Insurance Group: Stillwater is a national personal and commercial lines carrier with rock-solid financial stability. The company can help you with your personal umbrella insurance needs in Florida.
An independent insurance agent in your area can help you learn more about these and other Florida umbrella insurance companies. A local agent can help you get competitive quotes for the coverage that fits your needs.
What Is Personal Umbrella Insurance?
Umbrella insurance is a type of personal liability coverage.
Liability insurance pays for repairing or replacing damaged property of others. It also pays for medical expenses for injured parties, and it even pays your attorney fees, court costs, and any financial settlements or judgments you have to pay if you are sued.
Both your auto insurance and your home insurance provide limited amounts of liability coverage. If you’re sued, your policy limits may not be sufficient to cover a large financial settlement.
Personal umbrella insurance in Florida offers excess liability coverage that kicks in when the limits of an underlying policy, including homeowners insurance, renters insurance, condominium insurance, or auto insurance, have been exhausted.
Save on Umbrella Insurance
Our independent agents shop around to find you the best coverage.
Is Umbrella Insurance Required in Florida?
Personal umbrella insurance is not required in Florida. In fact, you may have heard that only wealthy people or those with a big house or significant personal assets need an umbrella policy. And while it's true that certain people might have more assets to protect — making them more vulnerable to lawsuits — anyone who wants protection from the devastating effects of a lawsuit should at least consider purchasing personal umbrella insurance.
Even if you’re not a high-risk individual, you can still be sued anytime. A personal injury lawsuit can result in an award of hundreds of thousands of dollars or more. Million-dollar judgments are not uncommon. You might be more likely to be sued if you:
- Own a home
- Own a rental property
- Have a trampoline, pool, or hot tub
- Host large parties
- Have a teenage driver
- Own a dog
- Own a large home
If any of these characteristics fit you, consider talking to your independent insurance agent about your need for Florida personal umbrella insurance.
What Does Personal Umbrella Insurance Cover in Florida?
Personal umbrella insurance in Florida offers "follow form coverage." This means that the umbrella policy typically covers what the underlying policy does.
An umbrella policy can sometimes offer expanded coverage, including covering you worldwide. This means, for example, that if you cause a car accident while driving abroad, your Florida auto insurance policy might not cover you, but your umbrella policy would.
Umbrella insurance might also cover a few circumstances that the underlying policy does not, such as claims for libel, slander, and false imprisonment.
Umbrella insurance policies in Florida kick in only when the limits of the applicable underlying policies have been exhausted. They are typically sold in million-dollar increments, such as $1 million, $2 million, or $5 million.
You need to have a certain level of underlying Florida home and auto insurance in order to purchase an umbrella policy. If you don’t have auto and home insurance, you won’t be able to buy Florida personal umbrella coverage.
Underlying coverage requirements may vary somewhat depending on the insurance company, but typically they are:
- Auto Insurance: Bodily injury liability coverage of $250,000 per person/$500,000 per accident
- Homeowners insurance: Personal liability coverage of $300,000
Some umbrella insurance providers require you to have your auto and homeowners insurance with them before they will issue you an umbrella policy.
A local independent insurance agent can help you understand all the coverage highlights and requirements of your Florida personal umbrella insurance.
How Much Does Personal Umbrella Insurance Cost in Florida?
Premiums for personal umbrella insurance in Florida will vary greatly depending on the amount of coverage you purchase and your personal risk factors. A $1 million umbrella policy costs around $400 per year, on average, but your premiums may be more or less depending on:
- The coverage limit and deductible
- Your net worth
- Your claims history
- Your driving record
- Your line of work
An independent insurance agent in Florida can help you find affordable auto, home, and umbrella insurance.
How to Find the Best Personal Umbrella Insurance Quotes in Florida
To get the best quotes for personal umbrella insurance in Florida, find an independent insurance agent now and get one-on-one consultation and affordable options for the best coverage for your unique needs. Your agent will work with you free of charge, offering you a variety of options so you can make the best choice.
What’s more, your agent will be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.
Save on Umbrella Insurance
Our independent agents shop around to find you the best coverage.
Florida Personal Umbrella Insurance FAQs
No, personal umbrella insurance is not required by law in Florida.
Personal umbrella insurance is a form of personal excess liability insurance. It pays for repairing or replacing damaged property of others. It also pays for medical expenses for injured parties, and it even pays your attorney fees, court costs, and any financial settlements or judgments you have to pay if you are sued.
It kicks in when the coverage of your underlying personal insuring policies, typically auto and home insurance, have been exhausted.
Premiums for personal umbrella insurance in Florida will vary greatly depending on the amount of coverage you purchase and your personal risk factors. A $1 million umbrella policy costs around $400 per year, on average, but your premiums may be more or less depending on:
- The coverage limit and deductible
- Your net worth
- Your claims history
- Your driving record
- Your line of work
Progressive, Nationwide, Travelers, Safeco, and Stillwater Insurance Group are some of the best personal umbrella insurance companies in Florida. These companies work with independent insurance agents to provide a wide range of highly rated personal insurance products.
If you’re shopping for personal umbrella insurance in Florida, working with a local independent insurance agent is your best bet. Independent agents aren’t tied down to one insurance company. They can help you shop around for the best coverage at a price that fits your budget.
What’s more, your independent agent will get to know you and your family, and will be there for you at claim time.