Cheap Umbrella Insurance

What is Umbrella Insurance?

Umbrella insurance is additional liability coverage that you can add to your existing policies. As its name implies, this policy sits “on top of” your other coverage to provide additional financial protection in the event that your other policies don’t cover an entire loss.

As an example, if you have a bodily injury liability limit of $100,000 but a driver you hit incurs $150,000 in medical bills; you would be responsible for the extra $50,000 in liability. If you have an umbrella policy, it would cover the additional $50,000, preventing a potential lawsuit and protecting your financial stability.

It doesn’t matter how much money you make, if you have assets you wish to fully protect, you should strongly consider purchasing umbrella insurance.

Facts about Umbrella Insurance:

  • Provides coverage and financial protection against claims and lawsuits wherein you or your family member is the cause of another party’s physical or mental suffering (including injury or property damage).
  • Also known as Excess liability
  • Applies to losses not covered by your primary policies
  • Applies world-wide.
  • Generally requires you to carry higher underlying limits on your other personal lines policies.
  • Umbrella insurance provides protection in many situations that your underlying personal policies may not.
  • Provides an important “blanket” layer of financial protection.
  • Umbrella insurance can be purchased in increments of $1 million, $2 million, or $5 million in coverage.

In California, civil law suits are more and more common each year and can be brought against you for any number of reasons. Even with the smallest of accidents, there is a good chance the damaged party will seek as much financial restitution as possible; this could include future earning.

Possible scenarios in which an umbrella policy would be useful:

  • Somebody slips on your front porch and claims damages over and above the cost of their medical care.
  • During a storm, your tree falls on a neighbor’s house, causing structural damage and/or water damage to their property.
  • You are the last car in a five-car pile-up and are found at fault, having to pay a percentage of the damage to each car in front of you.

Reasons to buy umbrella insurance:

  • Counts towards your “multi-policy” discount, often bringing your existing rates low enough to cover the entire cost of your umbrella policy.
  • Millions of dollars in coverage can be purchased for just a couple hundred dollars a year.
  • Our expert agents can explain the coverage in detail and provide concrete examples of when it will be useful.

Why Should You Purchase Umbrella Insurance from Cheap Insurance?
Having been in business for over thirty years, we have the knowledge and experience to ensure you have exactly the insurance you need. We can go through your existing policies, line by line, to find any possible exposure and suggest ways to cover the gaps that may have been left by other, less experience agents.
If you have questions about your policy or would like more information on the potential discounts umbrella insurance can offer you, please call our agents at 1-800-486-1866.

Contact Cheap Insurance for your California Umbrella Insurance.

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