Umbrella insurance offers additional insurance protection above your current auto and homeowners policies. It helps protect you from major claims and lawsuits and provides you with an extra layer of liability protection. In today's litigious age, it is even more important to have this coverage and protect what you have.
Typically, a $1 million umbrella policy is less than $200 per year (depending on the number of properties, vehicles, and drivers you have).
Do I need an umbrella insurance policy?
Consider this scenario: a car accident occurred where you missed a stop sign, and you are found to be at fault. The other party is a surgeon and requires shoulder surgery after the accident. The surgeon is unable to perform his work duties and sues for his medical bills and loss of income. Sometimes it isn't about the severity of the crash, but about who you are involved in an accident with. Your underlying auto policy only pays up to $500,000 per accident. Who will cover the remaining bills? Your umbrella policy will.
Things to note
You may need to meet certain eligibility requirements to purchase an umbrella policy.
- A homeowners insurance policy must have a minimum of $300,000 for personal liability.
An auto insurance policy must have a minimum of 250/500/100 (some companies require higher coverages of 500/500/100)
Claim history and driver history must also meet company requirements
We can package your umbrella with your home and auto, or find you a stand alone carrier.