What is umbrella insurance?

When it rains, it pours... Especially when it comes to unexpected accidents or claims! You never know when it might rain in Texas. Like the name implies, an umbrella policy acts to keep you safe, providing protection against a wide range of potential financial dangers and unforeseeable mishaps.

In most cases, umbrella insurance protects you from:

  • Injuries you cause in a car accident
  • Injuries someone suffers on your property
  • Property damage you cause in an accident
  • Property damage your pet causes
  • Property damage a dependent or child causes
  • Attorney fees and other legal costs

Yes, your existing insurance may protect you to an extent, but an umbrella policy goes much further (for less cost) than simply upping the limits on your existing policy. Umbrella policies can cover you for different types of risks and can also be portable, so they can follow you when and wherever you travel. The coverages you will have in your umbrella policy depend on how you decide to set it up.

Umbrella insurance does not cover:

  • Your own medical expenses
  • Losses to your property

Since the terms of umbrella insurance policies will vary depending on the insurance company and your own personal needs, we recommend discussing benefits, restrictions and coverage options with an agent from our firm. 

Don't you only need umbrella insurance if you have a lot of assets?

Actually, anyone with a job who expects to keep the income they earn could benefit from having an umbrella insurance policy.

What would happen, for example, if someone made a delivery to your house, slipped on a wet sidewalk caused by your sprinkler system, and suffered severe head injuries from the fall? You could get sued and be financially responsible for those injuries. Your homeowners insurance will kick in and pays up to its maximum limits, but what if the cost far exceeds those limits? Ask yourself: How long would it take you to pay off a large medical bill with your weekly paycheck?

Umbrella insurance covers the amount that exceeds your homeowners coverage - usually up to $5 million. This extra coverage spares you from a financial nightmare and keeps your assets secure.

Are umbrella policies expensive?

Relative to the amount of protection you get, umbrella insurance is highly affordable - especially since it’s unlikely you will ever have to make a claim against it! Your specific cost will be determined by:

  • The amount of coverage you purchase
  • Your insurance carrier’s provisions
  • Your risk profile and driving record

You may save even more money by purchasing umbrella insurance from the same carrier who provides your home and/or auto insurance. Ask us about the bundling options we have at our agency.

How will an umbrella policy benefit me again?

A long time ago, you set some goals, made a plan, worked hard, and got “there.” As you did, you accumulated possessions. Not to be ostentatious, but enough to make you and your loved ones comfortable. You are rightly proud of these accomplishments. In fact, you have protected them with the best insurance you could.

Now, you need extra protection: an umbrella insurance policy. A policy that will cover you above and beyond what any single policy might cover. Take into consideration what your current limits are on your auto and home liability policies. Common amounts are $300,000 to $500,000. In certain claims situations, your standard home or auto policy may not be enough to cover what the plaintiff is asking for.

How will you pay the judgment? How will you even defend yourself in such a lawsuit? Can you actually lose all you have strived for?

You bet you can. Not only can you lose what you worked for, you can lose part of your wages for the rest of your working life. Most people don’t know this!

At our agency, we provide free quotes and policy reviews to make sure you are adequately covered. We can help you determine what coverage limits are right for you, and if you would benefit from umbrella insurance.

What to expect from our agency

Navigating the variety of options for your umbrella insurance is simple with the Liberatore Insurance Group. We have teamed up with top insurance companies to bring you expert insurance advice, service, and products. As independent agents, we have the freedom to shop for the best coverage and price to meet your specific needs. Together, we’ll go over the options for your policy and discuss the special discounts or bundle packages you may qualify for.

Why we're different:

While most insurance products are similar in price and function, insurance providers vary when it comes to structuring a policy tailored to you.

After all, there’s no such thing as a one-size-fits-all insurance policy.

Contact us today, and we'll work with you to help you protect what matters most.


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