Umbrella Coverage in Columbus OH, Cleveland OH and Cincinnati OH

It may seem unlikely that a claim would exceed your existing insurance liability limits, but it can happen. That’s when it helps to have a personal umbrella insurance policy to be prepared for the unexpected. Umbrella insurance could help prevent you from digging into your savings or losing other personal assets to pay for a costly claim beyond another liability policy’s coverage limit. 


What Does Umbrella Policy Mean? 


An umbrella policy is an insurance that offers extra liability coverage that may kick in when the limit of another insurance policy, such as auto or homeowners, has been reached. It may also provide coverage for specific liability claims, such as libel and slander, that your base coverage does not include. Personal umbrella insurance can help provide further protection for your most important assets. 


How Does Umbrella Insurance Work? 


An umbrella insurance policy can help provide financial coverage if another liability policy isn’t enough. For example, if you cause a car accident that results in $500,000 in damages but have only $300,000 in liability coverage through your auto insurance, you would have to come up with the remaining $200,000 out of pocket. But if you have umbrella insurance, it may pay the difference. 


Do I Need Umbrella Insurance? 


Umbrella insurance is not required, but it may be worth buying if any of the following statements is true: 

• You own property.

• You have significant savings or other assets.

• You travel outside of the United States.

• You own a pool or trampoline.

• You have an inexperienced driver in your household.

• You coach kid’s sports.

• You often host parties at home.

• You are a public figure.

How Much Umbrella Insurance Should I Have? 


To decide how much umbrella insurance coverage you need, you should add up the value of your property, savings and investment accounts. Then look at the liability insurance you already have through other policies, such as homeowners or auto insurance, and consider buying enough umbrella insurance to cover the difference.  


Umbrella Insurance Quote in Dublin, OH 


If you want a quote for umbrella insurance, contact ProtectALL Insurance. We are committed to insuring all your most precious assets in life.