Why Every Florida Homeowner Should Consider Umbrella Insurance

Meals, groceries, packages – having the things you want and need delivered to your home is the most convenient thing ever — until someone slips and falls on your property and becomes injured. Then, you may discover that your home insurance liability coverage may not be enough to protect you from hospital bills and a potential lawsuit. That’s why EVERYONE needs umbrella insurance in Florida to protect their assets and future.

Lawsuits, dog bites, car accidents, boating collisions, or simple slip and falls can occur at any time and to anyone. While your current insurance policies may have some liability coverage, many accidents may result in exorbitant medical bills or even a lawsuit that could potentially exceed your coverage limits. What happens then?

Your retirement, savings, and investments could be at risk. Even your future earnings could be compromised if you are handed judgment that allows wage garnishments to pay off a hefty settlement.

What is Umbrella Insurance and How Does It Work?

Umbrella insurance is additional liability insurance that provides an extra layer of security above the limits of your homeowners, auto, watercraft, or other insurance coverage. After the coverage for liability in these other policies has been exhausted, your umbrella insurance kicks in to pay what is left over.

Here are some possible scenarios when umbrella insurance in Florida could be needed:

  • Your dog runs out of the house and attacks a stranger walking by. This person sues you to cover medical treatment for their injuries, lost wages, and emotional trauma.
  • Your son gets into a fight at school and punches another student, causing facial injuries. The student’s parents sue you.
  • The newest driver in your household causes a 5-car pileup accident on the highway and your auto insurance coverage isn’t enough to repair or replace all the other victims’ vehicles or pay for their medical expenses.
  • You work hard to put on a dinner party at your home and several attendees end up with food poisoning and sue you.

In these and similar situations, your umbrella insurance would kick in after your primary liability coverage is exhausted.

For example, in the dinner party scenario above, your homeowners insurance may include $300,000 in liability coverage, but seven guests sue you and the total lawsuit judgments equal $1 million. Your homeowners liability coverage is not enough — but if you have a $1 million umbrella insurance policy in Florida, your homeowners policy would cover the first $300,000, and your umbrella policy would cover the remaining $700,000.

Anyone Can Benefit from Umbrella Insurance

Do you need umbrella insurance in Florida? Virtually anyone is at risk for incurring expenses from an accident that could exceed their standard insurance coverage.

However, this extra protection is especially useful for those with a high net worth or many valuable assets. If your potential liability is high or you are at a higher risk of being sued, you should definitely consider Florida umbrella insurance. Small business owners would also benefit from an umbrella insurance policy in Florida to guard against potential monetary damages from lawsuits.

Here are some questions to ask when considering if you need umbrella insurance:

  1. Do you own expensive property?
  2. Do you have significant savings or other assets?
  3. Are you a landlord?
  4. Do you coach kids’ sports?
  5. Do you regularly volunteer in the community?
  6. Do you own a personal watercraft?
  7. Do you have teenage drivers in your home?
  8. Do you participate in high-risk sports or other activities?
  9. Do you regularly leave reviews for products or businesses online?
  10. Do you own your own business?

Umbrella Insurance in Florida from American Integrity

American Integrity provides significant protection with an umbrella insurance policy offering coverage up to $2 million. Our program is available to qualifying applicants who have their primary home written with American Integrity and their auto policy written through the same agency.

Find an agent near you or contact your existing American Integrity agent to ask about umbrella coverage and what amount of protection is right for you.