Do you ever worry that your auto and homeowner’s policy limits aren’t enough?

 

What if you get into an accident and the auto limits can’t pay the whole amount required?

 

Where does that extra money come from?

 

Sadly, the additional costs can come from your personal assets like savings, retirement, and property and, in extreme cases, you could lose everything. Personal Umbrella Insurance is used so that you never find yourself in that nightmare.

Personal Umbrella Insurance adds an extra layer of protection above another insurance policy, such as homeowners or auto insurance. This extra layer of protection comes into play when your home or auto limits have been all used up and there is still more money needed to be paid.

 

Without an umbrella policy, you would have to pay the extra money out of your own assets. With an umbrella policy, the policy would kick in and pay the extra costs thus protecting your assets.

Additionally, personal umbrella insurance can also be extended to other people in your household, like your spouse and children. If your child gets into an accident and uses up all the auto limits, the umbrella may kick in and provide additional coverage up to the umbrella limit. Most umbrella policy start at $1 million and go up in increments of millions ($1, $5, $10). Umbrella policies are not required but might help in the event of an unfortunate serious loss.

If you ever want someone to do a review of your insurance policies to see if adding a personal umbrella policy makes sense, feel free to reach out. We are here to help.

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We can also help insure your auto and home. When we bundle your auto and home insurance we can help you save money!