Umbrella Insurance - What is it?

What is an umbrella policy? 
An umbrella policy extends all of your current liability coverage on your homeowners policy up to another $1, $2, or $5 million. In the event that you get sued, this ensures you extra coverage. 

If you're like most people, you probably think umbrella insurance is just for big corporations or high-income households - but you couldn't be more wrong. This type of insurance is a great idea, because you never know when an unexpected event will happen; for example, a neighbor getting hurt on your property. Many suits today settle for far more than the amount covered on most homeowner's policies. 

To help put this is perspective, let us tell you about a time one of our clients was very grateful to have their umbrella policy. They were having some friends over one winter night to sit in their hot tub. Unexpectedly, one of their guests fell from the top of the hot tub (10 ft up in the air) and landed on the icy ground. This caused their guest to become paralyzed. Thankfully, the owners of the house and hot tub had an umbrella policy to help pay for the medical bills and such for their dear friend. (Also, she is doing better and hopes to race again as she was a triathlete.) 

You never know when something bad or unexpected is going to occur in your life, so it is always better to be safe than sorry. As these policies are offered at such a low cost with such a great benefit, it only makes sense to look more into this coverage. If you are interested in getting a quote for an umbrella policy, contact our office today by phone (877) 892-4565, email ScottReed@Shop2Insure.com, or visit our website!