If you cause an accident that results in damage or injury, for example, on the road or at your home, the liability coverage in your insurance policy will kick in to cover the costs. But what if the value of the claim exceeds the limits of your policy? In most cases, you could be left covering the difference out of your own pocket. Umbrella insurance protects you from this risk, offering additional protection when your other policies have run out.
Understanding Umbrella Insurance
What Is an Umbrella Insurance Policy?
An umbrella insurance policy is an extra layer of protection against liability claims related to auto accidents, injuries on your property, and a variety of other situations. If the damages exceed the policy limits of your auto, business, renter’s, or home insurance, your umbrella policy will kick in to cover the rest.
Why You Might Need Umbrella Insurance
Even if your other insurance policies have generous liability limits, the damages from an accident can exceed them, especially if someone requires extensive medical care. For instance, if your auto insurance has a $50,000 limit for personal injuries and you cause an accident resulting in $100,000 in medical bills, the other driver could sue you for the remainder. Umbrella insurance eliminates that risk, providing peace of mind and protecting your financial future.
Umbrella Insurance Costs
Insurance companies know that serious accidents aren’t common, so umbrella insurance is often more affordable than you might expect. Most people can get up to a million dollars in liability coverage for just a few hundred dollars a year.
A sound insurance policy can help you deal with whatever surprises life brings your way. Since 1975, the independent agents at Stautberg Financial Group have provided tailored policy solutions and detailed advice to clients throughout Cincinnati and the Tri-State Area, helping them protect what matters most. To request an umbrella insurance quote, visit their website now or call (513) 821-6300 today.