Umbrella Insurance Offers Excess Liability Coverage

No one is safe from lawsuits these days. Anyone can be sued for any reason, and if you or a family member injures someone else, or an injury occurs on your property, you can be sued to pay for damages to the injured party.

If you want to protect your assets, you need the excess liability protection of personal umbrella insurance. Personal umbrella policies supplement the liability coverage provided by your other insurance policies.

What is Personal Umbrella Insurance?

Your homeowners, renters, auto or boat insurance already provides some level of personal liability insurance. But the cost of property damage, injuries to others and resulting lawsuits can easily exceed the limits of those policies. If you are sued because of injury or property damage to others, you could be forced to pay a legal judgment that could be devastating to your current assets and future earnings.

Personal umbrella insurance provides extra personal liability coverage that helps protect you from major claims and lawsuits beyond the limits of your homeowners, renters, and auto policies as well as beyond the limits of policies covering your motorcycle, motorhome, and boat. Umbrella policies typically provide $1 to $5 million in additional liability protection after the limits on your other policies have been exhausted.

How Does Umbrella Insurance Work?

Umbrella policies can usually be purchased in increments of $1 million, and include protection above and beyond the liability limits of your other personal insurance policies.

  • If you reach the liability limit of your homeowners, renters, auto or boat policy, your umbrella policy will step in, offering additional coverage.

  • If you face liability issues not covered by your other personal insurance policies, your umbrella policy will potentially provide coverage that you otherwise would not have had.

We work with our clients to understand the risks they face and the assets they need to protect. With this information, we can help determine the appropriate amount of personal umbrella insurance that is needed. In addition, we can find policies for high-value homeowners who require liability protection beyond $5 million.

Who Needs Personal Umbrella Insurance?

Personal umbrella policies are not just for the wealthy; every policy owner who wants to protect their assets and financial future should have one.

Anyone who faces any risk of causing or being accused of causing injury or property damage to another individual should consider personal umbrella insurance. Some considerations include:

  • What kind of work do you do?

  • Do you own a home?

  • Do you own and/or drive a car?

  • Do you have a swimming pool?

  • Are you a high net worth individual?

  • Do you own a dog?

These are just a few of the factors that we will evaluate. The bottom line is that anyone who is interested in protecting themselves against the potential of a lawsuit should consider personal umbrella insurance.

Contact us or call 800-627-4441 today for a needs assessment and quotes for personal umbrella insurance. We serve Georgia and Tennessee residents from our offices in Calhoun, Cartersville, Dalton, Ringgold, Rome and Woodstock.