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The Facts About Umbrella Insurance
Do I Need Umbrella Insurance?

Today, lawsuits are everywhere. Courts are awarding larger amounts of money in damages than ever. Homeowners, auto, and watercraft policies all come with limited liability insurance coverage. That is the portion of a homeowners, auto or boat policy that pays for expenses such as an injured persons medical bills, rehabilitative therapy, lost wages and compensation for pain and suffering due to the negligence of an at fault person. After adding up all of the medical expenses for the injured and the legal fees of the negligent person, the standard liability in one’s homeowners or auto policy is often not enough.

If an unfortunate accident should happen that is your fault, do you have enough liability insurance from your current policies to cover your costs for negligence? Since no one can predict how much a jury may award the injured person, umbrella insurance is not just for the wealthy anymore, but a needed protection for almost every policyholder.

How Much Does Umbrella Insurance or Excess Liability Cost?

A personal liability umbrella insurance policy can give you added liability protection without a large added cost. Umbrella policies are often the least expensive policies offered by an insurance company. Depending on how much umbrella liability coverage you decide to purchase, it could cost as little as $200 to $300 a year for 1 million dollars of coverage.

How Much Coverage Does Umbrella Insurance Come With?

Together we can select the amount of umbrella coverage you would likely need, considering your assets, your income, your projected future income and the risk profiles of your family. Umbrella insurance coverage can be obtained through the Castricone Agency from one to tens of Millions of dollars. Be sure to ask us about it!