Personal Umbrella Insurance

Accidents happen, and sometimes the costs can exceed the limits of your standard insurance policies. That’s where personal umbrella insurance comes in. It may financially protect your assets and future earnings from devastating legal claims. Without it, you could be left paying out of pocket for damages that surpass your primary coverage, potentially leading to financial ruin.

What Is Umbrella Insurance For?

Personal umbrella insurance may provide an extra layer of liability coverage beyond the limits of your home, auto or other personal insurance policies. It kicks in when your existing insurance isn’t enough to cover the costs of a significant accident or lawsuit. This type of insurance may cover many incidents, including personal injury claims, property damage and legal fees.

How Much Personal Umbrella Coverage Do I Need?

Generally, your coverage should be enough to protect your net worth. Consider these factors to determine the amount of personal umbrella coverage you need:

• Your total assets, including home and vehicle

• Your activities that may carry higher liability risks, such as boating or hosting frequent social gatherings

• Your existing insurance coverage

• Your occupation

• Your family situation, such as if you have young children or teenage drivers

Consult with an insurance advisor from Maranatha Tax & Insurance Agency to help you determine the appropriate amount of coverage based on your circumstances.

How Much Does Personal Umbrella Insurance Cost?

Despite providing significant additional coverage, umbrella policies are typically inexpensive. Premiums can vary depending on the coverage and the level of risk. Most policies offer millions of dollars in coverage for a few hundred dollars a year, making them a cost-effective way to safeguard your finances.

Where to Get Personal Umbrella Insurance

Contact Maranatha Tax & Insurance Agency and discover how our personal umbrella insurance can provide the financial security you need. Request a personal umbrella quote today.