Homeowners Insurance Florida | Do I Need Umbrella Insurance?

BLOG_What is at stake without umbrella insurance

Homeowners Insurance Florida | You’ve heard of umbrella policies and understand that they protect you beyond the liability limits of your base homeowners policy. At American Integrity Insurance, our base umbrella policy will provide you with at least $1 million in coverage on top of your policy limits, with coverage offered up to $5 million. But you still might be wondering: “Do I really need one?" 

Without an umbrella policy, you will pay out-of-pocket for damages exceeding your liability coverage. For instance, let’s say you have $250,000 in liability coverage through your auto policy. If you’re at fault in a car accident and someone in the other car sues you for a total of $500,000, your auto policy will pay them $250,000 – but you will have to come up with $250,000 as well as your own attorney fees. This will typically mean taking from your savings or personal assets possibly even a lien against your home to cover these costs. Having an umbrella policy protects everything you have worked so hard to build in the event of an accident.

Related Post: What is Umbrella Insurance?

But I'm Not Rich

When considering purchasing an umbrella policy, many people overlook the risk because they assume only wealthy people need this coverage. People with cars, property and savings (anything that can be “liquefied” into cash) are risking losing those things without an umbrella policy. And your future wages can even be targeted through wage garnishments.

Things that could increase your need of umbrella insurance include: 

 •  Frequently drive long distances or are frequently in heavy traffic 
 •  Additions to your home, such as a swimming pool or trampoline
 •  Have a dog
 •  Regularly post reviews of products and businesses

Related Post: Top Five Things You Should Know About Florida Umbrella Insurance

How Much Umbrella Insurance Do I Need? 

It is recommended that you are covered for at least as much as your net worth. This includes savings, property, other assets and income. Without at least this much coverage, you leave this personal wealth vulnerable. It’s a great idea to also consider future income, as well. Remember, insurance only works when it is in place before an accident occurs.

To learn more about our umbrella policy, contact your American Integrity Insurance Agent today. Visit American Integrity Insurance to find an American Integrity Agent near you.

American Integrity Insurance is committed to providing Florida homeowners with sound, comprehensive insurance coverage and an extraordinary customer experience. We strive to be a valued partner to our policyholders, agents, and community.

We offer traditional and high valued homeowners insurance, condo insurance, renters insurance, and the special coverage required for vacant homes, manufactured homes, and policies designed for those who need less coverage or are renting out their home. We also offer extra protection, including flood insurance, umbrella insurance, golf cart insurance, boat insurance, cyber coverage and identity theft protection as well as equipment breakdown coverage, to help address a broad range of needs facing Florida homeowners today.

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