Umbrella Insurance

Life is full of uncertain events, and unexpected situations can arise anytime. While you may have auto, homeowners or renters insurance, umbrella insurance is another essential layer of protection worth considering. Whether you’re a homeowner, a business owner, or simply want peace of mind, understanding umbrella insurance is crucial.

What Is Umbrella Insurance?

Umbrella insurance offers extra protection for your savings and other assets. Umbrella insurance goes beyond the liability coverage provided by your existing policies, such as auto or homeowners insurance. If you’re at fault for injuries or property damage, and your other policies don’t cover the full costs, an umbrella policy may be able to help pay what you owe. It’s especially useful in expensive situations where medical bills or repairs exceed the limits of your base auto, homeowners or boat insurance policies.

Is Umbrella Insurance Important?

Umbrella insurance can play an essential role in safeguarding your financial well-being. For example, imagine you cause a severe car accident, and the medical bills and legal expenses you’re responsible for far exceed the limits of your auto insurance policy. Your savings, home and other assets could be at risk without umbrella coverage.

With an umbrella policy, you gain an extra layer of protection. It can help cover liability costs beyond what your primary policies handle, providing peace of mind and helping to ensure that unexpected events don’t leave you financially vulnerable.

Moreover, umbrella insurance can cover legal defense costs, including attorney fees and settlements. In a litigious world, having this safety net is essential. So, whether it’s a slip-and-fall incident on your property or a car accident you cause, umbrella insurance can help protect you from potential financial devastation.

How Much Is Umbrella Insurance?

The following factors can influence the cost of umbrella insurance:

• Coverage amount
• Personal risk profile (e.g., driving history, claims history and lifestyle)
• Number of properties and vehicles
• Number of dependents

Contact Betzy Insurance LLC to discuss umbrella insurance policy options. We can make coverage recommendations based on your specific circumstances.