What is an umbrella? Simply, an umbrella policy is something you can purchase through your insurance company that providers extra coverage beyond your normal limits, usually as a backup for homeowner’s insurance, auto insurance and boating insurance. You are usually eligible to purchase one if you have high underlying limits and all of your insurance coverage through one company. It normally does NOT cover business losses, and you will have to check if it covers UIM claims. A lot of recent policies exempt UIM coverage, which to me is one of the more useful parts of an umbrella; otherwise the umbrella is only there to protect your assets from a lawsuit filed by someone else for your negligence. Don’t get me wrong, that’s also important, but to me, if you’re paying for an umbrella, it should also protect you in case you or your family is injured by someone else’s negligence. So, this is your reminder to review your insurance policies, and find out if that umbrella policy provides UIM coverage! It usually says on your declarations page whether you have the coverage.