Consider the following example to see how umbrella insurance can help. If a driver runs a red light and collides with another vehicle, the damage could be severe, and multiple people may suffer injuries.

With car repairs totaling $50,000 and medical expenses exceeding $500,000, the at-fault driver may be responsible for costs far beyond their auto insurance coverage limits. In such cases, an umbrella insurance policy will cover any additional liability expenses that exceed the limits of their auto insurance.

To determine whether you need personal umbrella insurance, consider your assets and their role in your financial security. When people think about assets, they typically consider their car, home, investment accounts, and checking or savings accounts. However, your projected future income is also an asset—potentially your most valuable one.

If you become the target of a lawsuit for a large sum of money and do not have enough insurance coverage, you may have to pay out of pocket, leading to serious financial hardship. Umbrella insurance protects you from financial disaster in the event of an accidental mistake or an unexpected incident.

Check with us to determine whether you need additional protection. We can help you find cost-effective umbrella insurance coverage tailored to your needs. Contact us today!