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umbrella home protectionThe cost of an incident that would typically be covered by insurance can be so high in an extreme case that it can go beyond the limits of your policy, whether home, auto, boat or business. That’s where umbrella insurance comes in.

Think of umbrella insurance as an extra layer of liability protection on top of your existing policies, whether personal or business. If the liability limits of your lower tier policies are used up, umbrella insurance kicks in to contribute to the large expense. For instance, if you cause a car accident that results in third party property damages and medical expenses that cost $200,000, but your auto policy is limited to $100,000 in liability costs, your umbrella insurance can pick up that extra $100,000 that’s left over so it won’t be pinned on you to personally pay off.

Umbrella coverage is especially useful for businesses that have a high risk of costly lawsuits, including at-home businesses. This is also an important consideration for hobbyists such as woodworkers or backyard athletes who may accidentally cause injuries or damages to neighbors. Another perk of umbrella insurance is that it can provide coverage for claims that may be excluded from your lower tier policies, such as libel/slander and false arrest. This above-and-beyond coverage can be extremely helpful if you’re on the hook for a large sum of money, as in the above example.

Many people wrongly believe that this coverage will break the bank, but it can often be found for a reasonable, affordable price. You’ll often find umbrella insurance sold in increments of $1 million, but, of course, products and prices will vary between insurance companies. A qualified independent agent can help you find the coverage you need to protect your family, assets and lifestyle.

An extra layer of protection can save you from extremely high costs. Call Ken May Insurance Services at (760) 893-8055 for more information on Carlsbad umbrella insurance.
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