(800) 956-3728 Umbrella Insurance
in Virginia
Extra coverage to help protect against the unexpected.
Virginia Umbrella Insurance
You’ve worked hard to build your life in Virginia, from your home and car to your savings and investments. Umbrella insurance adds an extra layer of liability protection on top of your existing auto, homeowners, or renters policy, so one costly accident doesn’t put everything at risk.
Whether you’re commuting along I-95, renting out a property in Richmond, or hosting friends and family at your home in Virginia Beach, an umbrella policy can help protect you from expensive lawsuits that go beyond your standard coverage limits.
What Does Umbrella Insurance Cover in Virginia?
Standard insurance policies are designed to handle common accidents, but they have limits. Virginia umbrella insurance steps in when the costs of a lawsuit or major accident exceed the liability limits of your underlying auto or homeowners insurance policy.
This coverage offers extensive protection for:
- Bodily injury liability: Covers costs if you are found liable for injuries to others, such as a serious car accident or a guest slipping on your walkway.
- Property damage liability: Pays for damage you cause to another person’s property, like their vehicle or home.
- Legal defense costs: Covers attorney fees and court costs if you’re sued, which are covered on top of your policy limit.
- Personal liability: Protects against non-physical injury lawsuits, including libel, slander, defamation of character, and wrongful eviction.
- Landlord liability: Provides extra protection if you face liability claims related to rental properties you own.
What Does Umbrella Insurance Not Cover?
While Virginia umbrella insurance offers broad protection, it is not a catch-all for every situation. Typically, an umbrella policy does not cover:
- Your own injuries or property: It doesn’t pay for your medical bills or damage to your own home or car (your health, home, or auto insurance handles these).
- Business liability: Incidents related to a business you own or operate require a separate commercial policy.
- Intentional acts: Any damage or injury you cause on purpose is excluded.
- Contractual liability: Liabilities you assume under a contract (oral or written) are generally not covered.
Available coverages are $1M–$5M in CA, TX, OK, and IL and $1M–$2M in all other states where umbrella is available.
Who Should Consider Umbrella Insurance in Virginia?
Umbrella insurance can be a smart choice for many Virginia residents, including:
Homeowners:
If you own a home (especially if you have a pool, trampoline, or frequently host guests), you have increased liability exposure.
Frequent drivers and multi-car households:
The more you drive, the higher your chances of an accident. Households with teen drivers or long daily commutes may benefit from extra protection.
Landlords and property owners:
Owning rental homes or investment properties in places like Richmond, Norfolk, or Virginia Beach adds potential liability if a tenant or visitor gets hurt.
Pet owners:
If your dog bites someone or causes an injury, you could be held responsible for medical bills and legal costs that exceed your standard policy limits.
High-net-worth individuals or those with growing assets:
If you have significant savings, investments, or multiple properties, an umbrella policy can help shield your net worth from large lawsuits.
How to Get Umbrella Insurance in Virginia
Need an extra layer of protection? Getting umbrella insurance with Mercury is easy. Reach out to a Virginia insurance agent or call Mercury at (877) 921-1503 to get started.
How Much Umbrella Insurance Do You Need in Virginia?
The right amount of umbrella insurance depends on your net worth, your income, and your exposure to potential lawsuits. A common rule of thumb is to carry enough coverage to protect your total assets (home equity, savings, investments, and other property).
Use this guide as a starting point when thinking about how much coverage you may need:
|
Financial situation |
Recommended umbrella coverage |
|
Owns a home and car, minimal savings |
$1 million |
|
High-net-worth individual ($1 million+ in assets) |
$2-$5 million |
|
Owns multiple properties |
$2-$5 million |
|
High-risk profession (doctor, lawyer, etc.) |
$2-$5 million |
|
Public figure or high liability exposure |
$5 million+ |
How Umbrella Insurance Works with Existing Policies in Virginia
Umbrella insurance doesn’t replace your current auto, homeowners, renters, or condo coverage. It sits on top of them.
Here’s how it works:
- Your primary policy responds first when you’re found liable for an accident or injury.
- Once that policy’s liability limit is reached, your umbrella policy can step in to help cover the remaining costs, up to the umbrella limit you’ve selected.
For example, if you’re held responsible for a serious car accident and ordered to pay $800,000 in damages, but your auto policy only covers $300,000, an umbrella policy may help cover the additional $500,000 (subject to your policy limits and terms).
This extra protection helps safeguard your assets and future earnings from being used to satisfy a large judgment.
What Is the Cost of Umbrella Insurance in Virginia?
Umbrella insurance in Virginia is one of the most cost-effective ways to protect your wealth. Coverage is surprisingly affordable, often costing just a dollar a day for $1 million in protection.
Your specific premium will depend on factors such as:
- The amount of coverage you select (typically available in $1 million increments).
- The number of properties and vehicles you own.
- Your risk profile, including your driving record.
A Virginia Mercury agent can provide a quick, personalized quote so you can see how umbrella coverage fits into your budget.
Top Rated Insurance in Virginia
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Virginia Umbrella Insurance FAQs
Who should consider umbrella insurance?
Anyone who owns property, drives regularly, has savings or investments, or faces a higher chance of being sued (such as landlords, professionals, or pet owners) may benefit from umbrella insurance. If a lawsuit could put your assets at risk, an umbrella policy is worth considering.
What coverage amounts should I get?
Most policies start at $1 million in coverage, with higher limits available based on your needs. Add up the value of your home, vehicles, savings, and other assets, then choose a limit that would protect those if you were sued. A Virginia agent can help you run the numbers.
How do I get an umbrella insurance policy?
Start by contacting a Mercury Insurance agent in Virginia. They’ll review your current auto and home coverages, talk through your liability risks, and help you select the right umbrella limit. Once you’re approved, the umbrella policy is added on top of your existing protection.
Are there downsides to umbrella policies?
The main consideration is the additional premium, but many people find the extra peace of mind is well worth the cost. Umbrella policies also have specific terms and exclusions, so it’s important to talk with your agent and understand what is and isn’t covered.
What is the rule of thumb for Virginia umbrella insurance?
A simple rule of thumb is to carry enough umbrella coverage to protect your net worth, plus some extra room for legal costs. If your assets or income could be targeted in a lawsuit, umbrella insurance can help provide a financial buffer.
Is umbrella insurance tax-deductible?
For most Virginia residents, personal umbrella insurance premiums are not tax-deductible. However, if you have a business-related or commercial umbrella policy, different rules may apply. Always check with a tax professional for guidance on your specific situation.
How do I choose the right Virginia umbrella liability policy?
Consider your total assets, lifestyle, and risk factors. Then, work with a Mercury agent to compare coverage options, limits, and pricing. They can help you tailor a policy that fits your needs and complements your existing auto and home insurance.
Learn More About Umbrella Insurance
Check out these posts below to learn more about umbrella insurance:
What Is Umbrella Insurance and Do You Need It?
How Much Does Umbrella Insurance Cost?Mercury Insurance Coverage in Virginia
Mercury offers a range of insurance products to help protect Virginia residents and their families, including: