Umbrella Insurance | Top 5 Things You Should Know About Umbrella Insurance

Umbrella Insurance | Getting to know a new insurance policy can be as daunting as going on a blind date. There are some questions, mixed with long stares and a lot of “What if?” questions.

That’s especially true when it comes to umbrella coverage, which helps protect you from some of the hypothetical scenarios you hope would never happen. But sometimes clichés are true:  Bad things happen to good people. Life throws you a curve ball. And it really only takes one liability curve ball to affect your future.  

Let’s say you’re hosting a party. Someone slips and falls down the stairs, and between medical bills and the lawsuit they filed against you, you’re on the hook for $800,000. You have home insurance, though, and breathe a sigh of relief…until you find out that your liability policy limits are $300,000. Where does the extra $500,000 come from?

If you don’t have an umbrella policy, the extra $500,000 comes from you – your assets, your wages, your retirement, your savings, even your home.       

That’s where your umbrella policy comes in. Umbrella coverage is extra liability insurance that helps protect you in the event of major claims and lawsuits. It does this by providing additional liability coverage above the limits of your homeowners, auto, and boat insurance policies. For our party scenario, the extra $500,000 would be covered by your umbrella policy, protecting your assets and family’s future. You could breathe a sigh of relief.   

A Lasting Connection

And like on any good date, it’s best to determine if you have any chemistry before exchanging numbers. Wondering if umbrella coverage is right for you? (Share this) 

 Here are the top five things you should know about this important insurance product:

1. It can be a lot of coverage for a little money. American Integrity’s base umbrella policy, which provides $1M in coverage, is available for just pennies a day. Coverage up to $5 million is available.   
2. An umbrella policy can provide extra liability insurance for many different assets you own, including your home and automobiles. With anAmerican Integrity umbrella policy, it can also include your watercrafts and recreational vehicles. Each underlying policy must have at least $300,000 liability coverage and be written with your same insurance agent.
3. Lawsuits are common, and multi-million dollar lawsuits are continuing to make the news. Umbrella insurance could help you through many different types of situations, such as if your dog bites someone on your property or if your teenage driver causes injury to another party. Your Florida home insurance policy may provide substantial coverage, but in the event that you are sued, it may not be enough. An umbrella policy helps bridge the gap.  
4. You don’t have to be up for renewal with your current policies to inquire about an umbrella policy. Even if you are mid-term with your American Integrity homeowners policy, you can still contact your agent about adding an umbrella policy to your coverages.   
5. It protects what you’ve worked hard for. Whether you’re the morning commuter, the boating enthusiast, the holiday-party host, the parent of a teen driver, or all of the above, if the unfortunate occurs, umbrella coverage protects you and your family from lawsuits.  

In essence, umbrella coverage offers peace of mind. Contact an insurance agent to learn more about getting an Umbrella policy for your home and family.