Umbrella Insurance
A serious accident, a major insurance claim, or costly lawsuit can exceed the liability limits of your standard homeowners insurance or auto insurance policy. When that happens, your personal assets and future income could be at risk.
That’s where umbrella insurance coverage provides an extra layer of financial protection.
Umbrella Insurance: An extra layer of liability protection
Protecting your assets requires more than basic coverage. Umbrella insurance provides additional liability protection beyond the limits of your standard auto insurance and homeowners insurance policies – giving you greater financial security and peace of mind.
What does it cover?
Umbrella insurance focuses on liability expenses – the costs you may owe someone else after an accident or lawsuit. This could include:
- Bodily injury claims
- Property damage claims
- Legal defense costs
- Certain personal liability lawsuits
Unlike homeowners or auto coverage for your own property damage, umbrella insurance generally does not cover your personal losses (such as stolen belongings or damage to your own vehicle). Instead, it protects your savings, investments, and future income from large liability claims.
Coverage that extends beyond your policy limits
Umbrella insurance pays when your underlying liability limits have been exhausted. Once your home or auto policy reaches its maximum payout, your umbrella policy covers the remaining eligible costs – up to its coverage limit.
Example:
If your auto insurance policy provides $500,000 in liability coverage and you’re responsible for an accident resulting in $600,000 in medical expenses. Your auto policy would pay up to its limit. An umbrella policy could then cover the remaining $100,000, helping prevent out-of-pocket financial loss.
Umbrella insurance is often a cost-effective way to secure higher liability limits and protect your home, savings, retirement accounts, and other assets from unexpected lawsuits.
Our team will review your current liability coverage and recommend a personalized umbrella insurance policy that provides the additional protection your and your family need.
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As an independent agency, we are here to help you find the right coverage.
- Fill out the form, we’ll be in touch.
- Go over your options with an agent.
- Get the coverage you need.
Get in touch with an agent today!