If someone is injured on your property or because of an accident you caused, you’ll likely be held liable. And what happens if the settlement or judgment costs more than the limit on your home or car insurance policy? Unfortunately, any amount owed that is over your policy limit is your responsibility and can be financially devastating. Thankfully, you can easily protect yourself from large claims by adding low-cost umbrella insurance to your policy.
A personal umbrella policy provides extra liability protection by extending the limits of your auto, home, or boat policies. An umbrella policy works with your existing home or car insurance – it can even cover some losses that home and auto insurance do not cover. You can purchase umbrella insurance in various amounts, from one million to five million dollars or more. Umbrella insurance provides a substantial amount of additional coverage for not much more money.
Protecting you and your investments, rain or shine
With personal umbrella insurance you can receive:
- $1 million in coverage, with higher limits available.
- Additional liability coverage over the limits of your auto, home, or recreational vehicle policy.
- Protection from liability claims not normally covered under your home policy, such as libel or slander.
- Payment of defense costs, attorney fees, and other expenses associated with a lawsuit, even if the lawsuit is frivolous or groundless.
- Coverage for you and residents of your household insured under the policy.
Contact a Gallo|Thomas advisor to find how affordable and effective an umbrella policy can be for you.