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Kent Sutherland

Insurance Corporation

 

 

Umbrella Insurance     Request more information

If an unfortunate accident should happen that is your fault, do you have enough
liability insurance from your current policies to cover your costs for negligence?
Since no one can predict how much a judge may award the injured person, umbrella insurance is not just for the wealthy anymore, but a needed protection for every policyholder.

A personal liability umbrella insurance policy can give one added liability
protection without a large added cost. Additional liability insurance is often
inexpensive, especially compared to the added coverage one gains.

Furthermore, liability insurance covers one’s non-business activities anywhere in the world. Having the added protection of a liability umbrella policy is coverage no one should go without.

If you are ever sued, your standard homeowners or auto policy will provide you with some liability coverage, which pays for judgments against you and your attorney's fees, up to an amount set in the policy. However, in our litigious society, you may want to have an extra layer of liability protection. That's what a personal umbrella liability policy provides. It kicks in when you reach the limit on the underlying liability coverage in a homeowners, renters, condo or auto policy. An umbrella policy will also cover you for things such as libel and slander.

For about $150 to $300 per year you can buy a $1 million personal umbrella liability policy. The next million will cost about $75, and $50 for every million after that.

Because the personal umbrella policy goes into effect after the underlying coverage is exhausted, there are certain limits that usually must be met in order to purchase this coverage. Most insurers will want you to have about $250,000 of liability insurance on your auto policy and $300,000 of liability insurance on your homeowners policy before selling you an umbrella liability policy for $1 million of additional coverage.

 

 

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