Have a Ticket or Accident on Your Record? We’ve Got Your Umbrella Coverage!
Sometimes life throws a curveball—whether it's a traffic ticket or a recent accident. While this may affect your ability to get umbrella insurance through traditional carriers, you still deserve top-tier protection. That’s where we come in!
Example Scenario
To get a better sense of what Umbrella Insurance is and how it would work in a real life situation, it helps to think about it in action.
Say you’re held liable for causing a car accident with multiple vehicles, and the cost to cover the damages and injuries is $850,000. However, the liability limits on your Auto policy are only $300,000.
In this case, your insurance would pay only $300,000 for the entire accident, and you would be responsible for the remaining $550,000 out of your own pocket!
With an Umbrella policy, however, you could extend your liability limits beyond the maximum provided by your underlying policies. In this case, an Umbrella policy would provide liability limits above the $300,000 limit of your Auto policy, up to the limit you choose for your Umbrella policy (typically anywhere from $1 million up to $5 million in coverage).
In other words, you wouldn’t be left paying the remaining $550,000.
More examples…
- your dog bites a neighbors child
- fire at your condo spreads to other units
- accident at your rental property
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 a few hundred dollars per year. The cost of your policy goes up based on the amount of cars and homes you need it to overlay, or tickets or accidents in the household but in general the cost is pennies on the dollar, and all the risk is on the insurance company.
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. Stand alone umbrella policies are available.
