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All You Ever Wanted to Know About Insurance

Umbrella Insurance: How Does It Work?

Has your mortgage bank or auto lender suggested you check out umbrella insurance? If you’re puzzled by this supplemental insurance, we’re here to fill you in on the essentials. Umbrella insurance can add high liability coverage to your existing home, auto, or boat policies without costing you a lot of money.

Umbrella Insurance: The Basics

When you exceed the cap on an insurance policy, you can use umbrella insurance to add liability coverage when you need more. For instance, imagine a visitor trips on a loose step on your front porch and suffers a bad head injury, costing $500,000 in medical bills. Your home insurance only covers up to $200,000 in liability claims. You’d have to make up the difference – $300,000 – out of your own savings or future earnings. Or you could use umbrella insurance to pick up where your home insurance leaves off.

Umbrella insurance can be a lifesaver to prevent you from losing your shirt over something out of your control, like a slip-and-fall injury or accidental death. Did you know that half of all accidental deaths in the home are caused by falls? That’s why most umbrella insurance policies typically start at $500,000 and go up to $1 million or more.

What Coverage Does Umbrella Insurance Provide?

Your umbrella insurance is truly an umbrella of protection. It covers all members of your household, including children. If your teenager is at fault in a car accident, it can be used to cover liability expenses that exceed your auto policy.

You can use umbrella insurance when you and your family are away from home too. Whether you inadvertently cause damage to a hotel room while traveling or are at fault in an auto crash overseas, your umbrella insurance will protect you. If you’re out on a walk and your dog bites a stranger or your kid’s classmates become ill from a shared snack, you’ll have coverage in case you need more liability insurance.

It’s super easy to add umbrella insurance to your current policies. If you want to start an umbrella policy, reach out to Hometown Insurance Agency at 918-221-7686 today. We’ll be happy to answer all your questions and give you the personalized service only an independent agent can provide. Or, you’re welcome to start a quote online any time you like.