Umbrella Insurance Policy
An Umbrella Insurance Policy picks up where your Auto and Homeowners Policies leave off. This type of policy protects your existing personal assets and future personal assets against the cost of losing a lawsuit over a car accident or an accident on your property. If you were to lose such a lawsuit, you would likely have to pay the winning party for costs such as medical expenses and lost wages – this could quickly become very costly.
What type of policies can go on an Umbrella?
An Umbrella Insurance Policy can and would cover most any type of personal insurance policy. That would include your car insurance, home, boat, RV, motorcycle, rental property (not owned by an entity, and more.
If you own a business or perhaps you own a bunch of rental properties and have them in an LLC, there’s also a Commercial Umbrella policy that can cover commercial properties.
If you have questions about something specific we have Agents standing by ready to answer all of your questions, so don’t hesitate to contact us.
Required Underlying Coverage Limits
Most Umbrella Insurance Policies require a $300K underlying liability limit on your Auto and Homeowners Insurance. In other words, if you have a major accident and the amount you are liable for exceeds the $300K limit on the primary policy, your Umbrella Policy will kick in and cover the difference.
Umbrella Policies start at $1 Million coverage with premiums as low as $100 a year. You don’t have to be wealthy to need an Umbrella Policy. Even without assets, your wages can still be garnished in the event of an accident.
Click the “Get a Quote” button to get your umbrella insurance quote today!