If you were found negligent or liable for someone else’s bodily injury or death, would you have enough insurance to protect your assets? Umbrella insurance is a stand-alone liability policy that provides an additional limit of liability over and above your underlying liability limits that are already on your homeowners and auto insurance policies.
Life can be unpredictable and as much as we plan for the best, sometimes the worst can happen. This is where umbrella insurance comes into play and provides you with additional coverage that goes above and beyond to protect your assets.
How much does an Excess / Umbrella policy cost?
One of the things that makes Umbrella insurance so appealing, and almost a no-brainer in most situations, is that the cost is generally very low.
Most insurance carriers offer coverage starting at around $150 per year. The cost of your policy goes up based on the amount of cars and homes you need it to overlay, but in general the cost is pennies on the dollar, and all the risk is on the insurance company.
Even if your premium was $300/yr, the insurance company is on the hook for at least $1,000,000. That is a tremendous value, and something that everyone should think about given the litigious nature of our society.
It only takes one accident to potentially bankrupt yourself
If you don’t have enough coverage, and in a world where medical expenses are sky rocketing, it only make sense to think about purchasing Umbrella insurance.
To get started with your quote, click the start quote button below. Our team will shop the marketplace to see who offers the best coverage. Keep in mind that most insurance carriers require that you have at least your auto insurance policy with them in order to qualify for their umbrella.
Stand alone umbrella policies are available also for special situations.