Umbrella Insurance 101

Many people only look into the typical insurance policies, such as auto and homeowners policies, when looking for insurance. While these do provide coverage in a variety of situations, many times they do not provide enough. An umbrella policy can provide an extra layer of insurance to cover losses above your primary limits.

An umbrella policy provides extra liability protection above the typical personal insurance policies. Traditional umbrella policies provide $1 million in extra liability coverage, though additional limits may be added. Umbrella insurance can provide liability coverage to protect all of your assets, including properties you own, your investments, future income and much more.

While $1 million in coverage may seem like more than the typical person needs, but it is not. Consider if someone falls on your stairs and is awarded $800,000 for their injuries. If your homeowners insurance policy only has $300,000 of liability, you would be responsible for paying the other $500,000 out of pocket. A $1 million umbrella policy would provide that extra layer of coverage.

For the most comprehensive umbrella insurance policy to ensure you are protected for covered losses, contact Miller Insurance Associates in Carlisle, Pennsylvania.