The reality is we live in a litigious world. A bad auto accident or injury at your home could easily exceed your primary liability limits. To protect your assets from a serious accident, consider the affordable protection of a personal umbrella insurance policy.
About Stand Alone Personal Umbrella Insurance
Like a shelter from the storm, an umbrella policy provides liability coverage for serious accidents. Umbrella policies are secondary, or excess, of other coverage such as your personal auto, home, rental property, motorcycle, watercraft or recreational vehicle. Most personal umbrella insurance policies require that certain underlying coverage limits be maintained, typically $250,000 liability for auto insurance and $300,000 for home or other property insurance.
Personal Umbrella Policy Cost
A personal umbrella policy is typically provided in $1 million increments. Coverage limits from $1M up to $10M are commonly available. Best of all, personal umbrella insurance is very affordable, with rates starting around $130 per year.
What is Covered by Personal Umbrella Insurance
An umbrella policy will provide excess liability coverage over scheduled underlying policies. The coverage provided by an umbrella generally follows what is provided by your underlying policies, including:
- 3rd party liability for motor vehicles, homes and rental property, slander, libel, defamation and other related claims.
- Judgments and settlements, up to the umbrella coverage limit
- Defense costs including attorney fees
- Uninsured motorist bodily injury is sometimes available by endorsement
Do I Really Need an Umbrella Insurance Policy?
No one likes to be confronted with worst-case scenarios, but sometimes bad things do happen. Consider the following claim scenarios:
- You cause a serious auto accident in which there are multiple injured persons. You have auto insurance liability coverage of $100,000. The medical bills for the injured persons exceed $500,000 and a lawsuit is filed demanding $2M to settle.
- While diving in your swimming pool, a guest suffers a severe back injury that leaves them partially paralyzed. The guest is no longer able to work and sues you for over $1M.
- In a moment of frustration, you post an angry rant on social media about your unpleasant neighbor. The neighbor claims the posting harmed their reputation and business, resulting in a loss of income. The neighbor sues you for libel and is awarded $750,000.
A personal umbrella insurance policy can protect you from these types of claims and much more.
Get a Quote for Personal Umbrella Insurance
Safeguard Insurance has been offering personal umbrella insurance to our customers since 1998. We can often provide umbrella coverage bundled with your auto and home insurance carrier. We also work with several insurance carriers that provide umbrella coverage on a stand-alone basis. Call us at 702.638.0022 or obtain an instant quote by answering just a few simple questions.
Safeguard Insurance is located in Las Vegas, NV. We are licensed to quote personal umbrella insurance in Nevada, Utah, Arizona, Idaho, Oregon, Washington, California, and New Mexico.