Personal umbrella insurance is a secondary insurance that usually provides policyholders with broad coverage terms and higher limits. If you survey the options provided by insurers serving Wayland, Massachusetts, you’ll find that umbrella insurance can usually be purchased both through stand-alone umbrella policies and as an add-on coverage. Both can be good choices.

Wayland Residents: Is a Stand-Alone Personal Umbrella Insurance Policy or an Add-On Coverage Better?

Stand-Alone Insurance Policies Vs. Add-On Coverages

A number of insurance protections can be offered as both stand-alone policies and add-on coverages.

Stand-alone policies are complete policies that can be purchased separately from any other insurance policy. Even if they’re secondary policies, which most personal umbrella insurance policies are, they’re still a full insurance policy in their own right. They have their own paperwork and their own premiums.

Add-on coverages are optional coverages that can be purchased to supplement an insurance policy’s standard insurance coverages. The add-on coverage is lumped in with the main policy. There is only one policy, but it has many coverages that are each governed by their own terms, conditions and limits. Adding the coverage typically causes the policy’s premium to go up slightly (every policy is different).

Ultimately, whether you purchase a personal umbrella policy as a stand-alone policy or an add-on coverage makes little difference. Sometimes getting it as an add-on coverage can make billing a little bit easier since there is only one policy, and thus only one bill, to pay. If you get your personal umbrella policy through a local agent serving Wayland who also helped you with another policy, though, they may be able to combine multiple premium payments into one bill for you.

Look at Personal Umbrella Insurance Policies’ Coverages

Since it usually makes little difference whether you purchase your umbrella insurance as a stand-alone policy or add-on coverage, you should pay more attention to the terms and conditions of the umbrella insurance options you're comparing than to what precise form they take. When looking at umbrella insurance options, you ought to look for a policy that has:

• The amount of coverage you need (personal umbrella coverage often starts at $1 million, and you can purchase more)

• Broad coverage definitions that will protect you from a wide array of potential risks

• Terms that are compatible with your current insurance policies, which will be the umbrella policy’s underlying policies

• Affordable premiums

Unless you have unusual insurance needs, you’ll likely find stand-alone umbrella policies and add-on umbrella coverages that would meet your needs. To get the lowest price possible, you can compare the premiums associated with each stand-alone policy and each add-on coverage, to see what your cheapest option is. Sometimes it’s a stand-alone policy, and other times it’s an add-on coverage.

Compare Policies and Add-on Coverages Quickly with a Wayland, MA Agent

Getting quotes for both stand-alone policies and add-on coverages can be time-consuming, especially when you need to wade through all of the fine print to compare actual coverages and definitions. With the help of an insurance agent serving Wayland, though, the process is quick and easy. They’re familiar with personal umbrella insurance policies, and they’ve helped many people find coverage, so they know just what to look for in a stand-alone policy or add-on coverage. If you’d like help finding the most robust yet affordable option for you, contact an independent insurance agent in the area.