Required Minimum Limits for Umbrella Insurance
Key Takeaways
You Need Existing Auto and Homeowners Policies First
To qualify for GEICO's personal umbrella policy, you must already carry minimum liability limits on your auto ($300K/$300K bodily injury, $100K property damage) and homeowners ($300K liability) policies.
Umbrella Coverage Kicks In Where Your Other Policies Stop
If a lawsuit exceeds your auto or homeowners liability limits, umbrella insurance covers the difference. For example, a $500,000 judgment against you with a $300,000 auto policy limit would leave $200,000 that your umbrella policy could pay.
To be eligible for GEICO's Personal Umbrella Policy , you will need to have and maintain certain minimum liability limits on your auto and homeowners policies (and your boat policy if you're lucky enough to own one).
Here are the minimum liability limits for each of the different types of policies:
Auto Insurance Policy
- $300,000 person/$300,000 occurrence (bodily injury), $100,000 (property damage)
- or $250,000 person/$500,000 occurrence (bodily injury), $100,000 (property damage)
Homeowners Insurance Policy
- $300,000 liability
Boat Insurance Policy (if applicable)
- Boats under 26 feet & under 50 hp: $100,000 liability
- Boats 26 feet or longer, or 50 hp and up: $300,000 liability
How does umbrella insurance work with your other policies?
Umbrella insurance can kick in after you've reached the limits on your other policies. Imagine that you injure another driver in a car accident. He sues you for $500,000, but your auto policy only covers up to $300,000. An umbrella policy could cover the additional $200,000 —and help save you from financial hardship.
Need More Liability Protection?
Umbrella insurance may cover situations that your other policies may not.
