Umbrella insurance is a great insurance policy. Unfortunately, many people are unfamiliar with it. It provides additional liability coverage above your auto and home insurance. Also, if you have rental properties, boats, RVs, etc., an umbrella insurance will provide additional coverage. You may also hear this called a Personal Liability policy or Catastrophe policy.
Why is Liability Coverage So Important?
Unfortunately, we live in a litigious society. Liability coverage provides protection for you and your family if someone tries to sue you. In addition to the actual coverage, liability coverage covers the cost of defense. You know lawyers are expensive. So, having sufficient liability coverage can be very valuable if you ever have a claim.
I Already Have Liability on My Auto and Homeowners Policies. Why Get Umbrella Insurance?
Your auto and homeowners liability is very important. They will cover you for most everyday claims. However, what if you have a serious claim that goes over the coverage on those policies? An umbrella policy gives you added protection. Look at the picture above. Next imagine all your other policies under the umbrella. You can pay for the one premium for the umbrella insurance. Then, it provides protection for all of your things under the umbrella. This is why umbrella insurance can be a good option for many people, especially if you have a lot of assets.
How Much Does an Umbrella Policy Cost?
Umbrella policies are usually pretty affordable. The price does depend on how many vehicles, properties, etc. The limit that you choose will also affect the cost of the policy. However, people are usually surprised at how little a $1 million policy actually costs.
We Are Here for Your Umbrella Insurance Needs.
Think Safe Insurance is here to help you with your liability needs. Our insurance experts will help you determine if an umbrella policy would be good for your situation. We are always happy to help with any questions that you may have.
Contact us today for more info or to get a quote! 813-425-1626