What’s Under the Umbrella?

Of course, you don’t need to insure your umbrella. But as an umbrella keeps off the rain, umbrella insurance helps extend auto and home policies. Not only that, it may even cover some things that car and homeowners insurance policies don’t protect you against. If you’ve got a lot to lose, this kind of coverage may be the most affordable way to protect yourself.

  1. Extra Liability Insurance
    Liability limits on typical home and auto policies are fairly modest when compared to the value of new homes and cars. Clients can purchase umbrella insurance in increments for the right amount of extra protection at the right price.
  2. Legal Defense
    You have a legal right to defend yourself against claims of injury or loss, but lawyers are expensive. Not only will umbrella insurance help you pay claims, it can help pay for legal defense.
  3. Extra Coverage
    Some umbrella insurance polices can get modified to cover more unusual risks that are not typically mentioned in an ordinary policy.

 

It’s Raining Lawsuits!

If you’re like most people, you probably think umbrella insurance is just for big corporations or high-income households – but you couldn’t be more wrong. Umbrella insurance is a great idea for most households because it provides critical protection against costly liability suits in case someone becomes injured on your property. Many suits today settle for far more than the amount covered by most homeowner’s policies. Umbrella insurance provides significantly more coverage for injury suits and property damage claims at just a tiny fraction of your regular homeowner policy premium.

And many umbrella insurance policies can also protect you against damages that often aren’t included in other liability policies, providing you with an added layer of protection against financial loss. In fact, considering its relative low cost and level of protection it provides, umbrella insurance is one of the best deals in insurance today.

Still wondering if an umbrella policy makes sense for your needs? As your independent agent, we can help you determine if umbrella insurance is a good choice for you. Give us a call today and find out just how affordable it can be to have that extra peace of mind that comes from knowing you and your loved ones are well protected.

Myths about Umbrella Policies

As your independent insurance, we feel it’s our duty to provide you with the best tips, tricks, and information for navigating this world safely. With this in mind, we wanted to provide you with some information on umbrella policies and the myths behind them:

  1. Umbrella policies are only for the rich. Not true! Lawsuits are common nowadays and large settlements are often needed to appease the aggrieved party. Umbrella insurance can provide you with extra protection in case this happens to you.
  2. The premiums of this insurance are too expensive. Some policies are expensive, but yours will always depend on your needs, the coverage you require, and personal risk factors.
  3. You can use other policies instead of buying umbrella insurance. Sure you can use your financial assets, your future earnings, and even your home to pay for a legal judgment. You can also use other policies to satisfy the payment. However, only an umbrella policy can provide you with more protection in case the settlement is beyond the limits of your other coverage.

It is common for people to think that no one is going to sue them. You may not be at risk of getting a lawsuit today, but you never know what holds in your future. This is why umbrella policies are a must have. If you want a quote or you want more information, contact us to get the facts straight.