Shield your assets with an extra layer of protection.

Personal umbrella insurance provides additional liability coverage. It works with your underlying insurance policies, such as your homeowners or renters and auto insurance, to provide additional liability protection with higher limits. If you are sued and the liability limits of your underlying insurance policies are exhausted, your umbrella insurance policy will activate to cover additional legal costs, such as jury awards against you.

Even if you already have home and auto insurance, you might need umbrella insurance to protect your assets. In fact, umbrella insurance is designed to work with underlying policies like home and auto. You need these policies first, and then you add an umbrella policy for an extra layer of protection.

Umbrella insurance is important because most people don’t have much liability protection through their core home and auto insurance policies. A standard home insurance policy may offer around $100,000 in liability protection. Many states only require around $50,000 in bodily injury auto liability per accident, and some states have even lower limits.

If you or someone in your family is held responsible for an injury, the lawsuit could easily exceed these limits. Think about what would happen if you caused a car crash, your dog bit a kid at the park, or a guest was injured at your home. Medical bills alone can be staggering, and when you add in the potential for lost wages and awards for pain and suffering, it’s easy to see how jury awards can surge.

If a lawsuit exceeds your coverage, you can be held personally responsible for the difference. This could put your savings, future earnings and assets at risk.

You can protect yourself by increasing the liability limits of your underlying policies and by adding an umbrella insurance policy for even more protection.

Umbrella insurance can be extremely worthwhile for families and individuals. Ask yourself:

• Do you have assets to protect, such as savings or real estate? A large jury award could jeopardize these assets, but umbrella insurance provides protection.
• Do you have future earnings to protect? If you cannot pay a jury award, your future paychecks could be garnished. Umbrella insurance helps shield you from this possibility.
• Do you have teenagers in your household? Umbrella insurance provides valuable protection for individuals and families regardless of whether they have teenagers, but teenagers bring additional risks, especially once they start driving. If your teen causes a car crash because they are inexperienced on the road, a resulting lawsuit could be financially devastating for your family. Umbrella insurance provides extra protection.

A personal umbrella insurance policy tends to be very affordable. Although your rates will depend on your risk factors, such as your location and the number of drivers in your household, most people can get $1 million in coverage for around $300 a month or even less. You may be able to save money by bundling your umbrella coverage with your home and auto insurance.

If you’re looking for the best umbrella insurance, the first step is to get an umbrella insurance quote. You’ll need to provide a little information about yourself. Use the link below to get started.