This is probably the easiest insurance policy to understand.
An Umbrella policy will help protect you for certain claims over and above your Auto or Home Owner policies.
Umbrella Example
Driver A is involved in a major car accident and is at-fault.
The occupants in Vehicle B are injured, some severely.
Driver A’s Bodily Injury coverage will kick in to cover the injuries to the occupants in Vehicle B. The Property Damage coverage will cover damages to the other vehicle.
Sounds simple, right?
But what if YOUR Bodily Injury limits are not enough? What if the injuries in the other vehicle end up costing more than what you have on your auto policy?
Where the Umbrella protects you
If the coverage on your auto policy or home policy falls short, the Umbrella coverage then could kick in.
Without an Umbrella policy, you could face being held personally responsible and having to figure out a way to pay for damages out of your own pocket, using your assets to cover that obligation or having a portion of your income garnished well into the future.
The typical Umbrella policy is for $1,000,000. But you can purchase higher amounts, if needed.
Priced Right
Most Umbrella policies are very reasonably priced. The premium is based upon several factors, such as the number of driver’s in the household, age of driver’s, number of vehicles owned and insured, and whether you own other properties and recreational vehicles. All that included, an Arizona Umbrella policy may be the best value going.
Not everyone needs an Umbrella policy. But if you own a home, have other assets, and earn an income you need to give it some thought.
Ask us for a quote.