Umbrella Insurance is extra liability insurance that goes above and beyond the limits of the insured’s property, vehicle, business, or watercraft insurance. It can protect you against some lawsuits not covered by your other insurance policies. One example would be if you were sued over an accident involving a boat that you rented while vacationing in Europe. It also provides coverage for some claims that may be excluded by other liability policies including, but not limited to: false arrest, libel, slander, and liability coverage on any rental units that you may own.
The more that your assets increase or the more income that you accrue, the more likely it is that you would benefit from an umbrella insurance policy.
There are many money saving discounts that are available if you are already have other insurance policies with Alliances Insurance Agency. The cost of an umbrella policy depends on how much underlying insurance you have and the kind of risk you represent. The greater the underlying liability coverage, the less expensive the policy will be since you would be less likely to need the additional insurance. An umbrella policy is the absolute best buy in the insurance business. It can cost as little as $150 to $200 for the first $1 million of coverage, then about $100 for each additional $1 million.
Let Alliances Insurance Agency help you find the right amount of coverage to suit your insurance needs.
Call us today at (610) 816-0043
Highly Recommend
“My husband and I just purchased our first home and used Kevin Hamill’s services for our insurance. We originally tried to find the best rate on our own, but quickly got frustrated. Kevin was recommended by our buyers’ agent, and after the first conversation we never looked back! Kevin was able to shop around for the best bundle prices for our auto, jewelry, homeowners and life insurance. He beat even the local agents by $200-$300 and assisted us with cancelling our existing policies to get refunds. Kevin is different from the rest because he takes the time to really get to know what you are looking for and doesn’t oversell you. He is a great communicator and always responded in a timely manner. He is extremely knowledgeable about insurance and helped explain everything to us in detail. We would highly recommend Kevin for his insurance services to everyone!”
Umbrella insurance is extra liability insurance coverage that goes beyond the limits of the insured’s homeowners, auto, or watercraft insurance. It provides an additional layer of security for:
Defense Costs
Teen Drivers
Dog Bites
Personal and homeowners liability situations
Slander
False arrest
Pain and suffering
A volunteer or a members of a board
Have a swimming pool and/or host parties at your home
Umbrella Insurance adds a safety net of extra personal liability coverage to protect you if you are found liable for property damage or bodily injury that exceeds the limits of your existing Car, Homeowners, or Renter’s Insurance. Coverage can extend to the policyholder’s spouse and any dependents or relatives that live with them.
You should have enough Umbrella Insurance to cover your net worth, including future earnings you stand to gain from investments.
Auto accidents
Bodily injury
Personal injury
Property damage
Funeral costs
Legal fees and defense costs
Medical expenses
Landlord liability
Slander
Libel
Defamation
False arrest
Malicious prosecution
Shock or mental anguish
Certain dog breeds
Incidents that take place abroad
Accidents involving rental property like watercrafts or scooters
Always consult insurance providers about the exclusions on Umbrella policies since many are based on your underlying policies or state-specific legislation.
Umbrella Insurance starts at $1 million, and it increases in $1 million increments. Consider appropriate coverage by considering:
