Personal Umbrella Insurance
Southern Fidelity’s Personal Umbrella policy helps protect our insureds’ assets from major claims and lawsuits
by providing extra liability insurance above the limits of their primary homeowners, auto, and boat insurance policies. This product is available in Florida, Louisiana and South Carolina.
When policy limits on the underlying home or auto policies are not enough to indemnify an injured party, a policyholder’s retirement funds, investments, and savings could be at risk. The Personal Umbrella policy is there to provide added protection to an insured’s personal assets in the event that an insured’s underlying policy limits become exhausted.
Below are some Frequently Asked Questions (FAQ) regarding our Personal Umbrella policy:
Who is eligible for this product?
It is available to all Voluntary Homeowner and Dwelling Fire customers who have a primary residence insured in the State of Florida, Louisiana and South Carolina. Eligible parties must have underlying insurance policies with the minimum required underlying liability limits.
What is covered under a Personal Umbrella policy?
A Southern Fidelity Personal Umbrella policy covers a customer’s home, automobiles, watercrafts, “incidental” business pursuits and business property, and recreational vehicles (with some restrictions).
What are the available limits for the Southern Fidelity Personal Umbrella policy?
A Southern Fidelity Personal Umbrella policy will provide policyholders with at least $1,000,000 in coverage on top of their underlying policy limits. Each underlying policy must have at least $300,000 in liability coverage.
- Increased limits of $1,000,000 and $2,000,000 are available
- Agents can submit applications with up to $2,000,000 limits in the quoting system
Is excess Uninsured/Underinsured Motorist (UM/UIM) Coverage offered on the Personal Umbrella policy?
Yes, excess UM/UIM coverage is offered as an optional endorsement and is limited to $1,000,000 in coverage.
What are the required underlying limits for your Homeowner policy or policies?
All underlying Homeowner policies need to carry a $300,000 limit of Coverage E - Liability.
What are the required underlying limits on the Automobile policy?
- Drivers under age 25 with one moving violation or at-fault accident in the last three years: $500,000 Combined Single Limit
- All other risks: $300,000 Combined Single Limit; Or $250,000/$500,000; Or $300,000/$300,000 Bodily Injury and $100,000 Property Damage
- UM/UIM: $250,000/$500,000 if UM is selected on the Personal Umbrella policy