What is an umbrella policy & do I need one?

Kortney CambersUnderstanding Insurance

Lawsuits are everywhere & judges are awarding larger amounts of money than ever. An umbrella policy is a secondary form of insurance that covers your personal liability above and beyond what your homeowners, renters, or auto policy covers. Umbrella policies cannot stand alone. They provide additional liability protection to your current insurance policies.

Umbrella insurance is no longer just for the wealthy – it is for everyone. Do you…

  • have pets
  • own a home
  • entertain guests or host parties
  • own a car
  • babysit at your home
  • own rental properties?

If you checked yes to any of the above points, an umbrella policy is for you.

What exactly does umbrella insurance cover?

  1. The amount awarded if you were sued for property damage or injury
  2. Legal defense costs

Imagine you were found at fault for a car accident. The accident resulted in the injury of the other driver, who sued you for the cost of their outrageous medical bills. The bills and legal representation may exceed your current liability limits. The court may decide to garnish a portion of your wages.

The standard homeowners or renters policy may not cover your costs for negligence. If you are at fault for another’s critical injury, do you have enough liability insurance in your current policies? A personal umbrella policy provides you additional protection.

Umbrella insurance is an inexpensive solution to protecting you – and your family’s – financial assets. All-in-all the umbrella protection is a small price to pay for your peace of mind.

Call Robbins Insurance Group at 355-6677 or visit robbinsig.com for more information.