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WHAT YOU NEED TO KNOW
Most people are pretty pleased with themselves if they have homeowners and automobile insurance. And we would agree — they’re doing pretty well, all things considered. But we think those policies can be a bit like going out in the rain in a sweater, a jacket and a pair of boots. You’re still going to get wet — much wetter than you would if you had an umbrella. And that extra, above and beyond protection is exactly what umbrella insurance offers you.
Umbrella insurance is a policy that covers excess liability, or situations that exceed the coverage that your basic insurance packages offer you. Umbrella liability insurance helps protect you from major accidents, liabilities, financial responsibilities and lawsuits that may arise from truly unexpected or extraordinary events. They typically have much higher limits than most people’s home and auto plans.
The best umbrella insurance plans often cover several different areas of liability. Just like the aforementioned basic packages, they may cover personal injury and bodily injury, as well as any medical bills or lawsuits arising out of an accident that caused bodily injury. They also frequently cover property damage, including items like cars, homes, yards, antiques and even other buildings like schools, churches and recreation centers. Umbrella insurance policies are also interesting in the sense that they protect policy holders against some more esoteric or rare liabilities, like slander or libel. False imprisonment and shock are also covered by some high end packages.
So how much does umbrella insurance cost? That depends largely on the policy limit that you want, along with the deductible that you’re willing to pay. Typical packages might run policy holders up to $150 or $200 for a one million dollar limit, but those figures are not exact and vary widely depending on individual characteristics of policy holders. Limits are determined mainly based on what risks the policy holder is facing, the value of any assets, and the potential for future income to be lost. So how much does personal umbrella insurance cost? Quite honestly…it depends!
You can visit our website to request an umbrella insurance quote, or call one of our agents directly to get a personal umbrella insurance quote. We have a lot of experience with going above and beyond for our clients, just like your policy will be going above and beyond for you.