Why You Should Consider Umbrella Insurance

No matter how careful you are, accidents can happen. If an accident occurs and you were the cause, your hard-earned assets could be at risk. The cost of the property damage or injuries you may have caused to other parties could exceed the limits of your insurance policies. In fact, this is not uncommon at all. However, an umbrella policy would protect you over and above the limits of your auto policy. This kind of coverage could make the difference between security and financial hardship. Read on for more reasons why you should consider umbrella insurance.


Protection from Unexpected Lawsuits

Lawsuits are probably not on the list of things you have to worry about. Who’s going to sue you anyway? Nevertheless, the truth is that costly lawsuits are relatively common. For example, someone could slip on your driveway and break their ankle. Even if you think it’s not possible, you could definitely be sued. An Umbrella Policy protects you from financial ruin in the case of an unexpected lawsuit.

What an Umbrella Policy Covers

Umbrella insurance protects you over and above your car and homeowner’s insurance policies. It provides added protection on top of what you already have. Your umbrella insurance would kick in once your other policies were used to their limits. A simple method to determine how big of an umbrella policy you need is to add up your assets’ total worth and compare them to the total liability coverage you already have. If your total assets’ value is greater than your liability limits, an umbrella policy will help to cover that gap. On average, umbrella policies start at $1 Million and can go as high as $10 million if you qualify. Rates also aren’t as high as you may think. Ask your insurance agent about umbrella insurance and if it’s right for you.


Ready to purchase umbrella insurance? We can help get you the perfect policy. Give us a call today!