What type of insurance do you need?

What is Personal Umbrella Insurance?

Do you ever wonder what would happen when your property or auto insurance limits are maxed out? That's where an Umbrella policy comes into play, to cover the excess damage that your personal home or auto policy would not cover. A personal umbrella policy is extra liability protection... coming in handy more often than you would think. 

ow Do Umbrella Policies Work?
It's likely that your home and auto policies have liability coverage. The questions is: will your current limit it be enough?

Example 1: Let's pretend you were to get in an auto accident and the cost of injuries you caused to others was $500,000 but your auto policy only had a Bodily Injury limit of $300,000.Who would pay the $200,000 that your auto policy didn't cover? Your Umbrella policy! 

Example 2: Let's say you hosted a party at your home and a guest gets injured. The injured guest is angry and sues you for $1,000,000 (one million dollars) because the accident happened on your property. Your property insurance should have some liability coverage but, would it be enough to cover all court expenses of a $1,000,000 law suit? Lawsuits can add up quick, are you prepared to cover costs that extend beyond your current liability limits?

Do You Need A Personal Umbrella Policy?

We suggest all clients to highly consider having an Umbrella Policy. An easy way to consider if you really need an umbrella policy or not would be to ask yourself three questions:
1. Do you own a home?
2. Do you own any significant assets in addition to your home?
3. Do you have retirement savings?

If you answered yes to any of the above, it would be wise to consider protecting your most valued assets in case an accident or lawsuit. Add up the amount of all your assets and compare it to the amount of liability coverage on your home/auto policy. More often than not, your assets will be greater than the amount of your liability coverage. Don't jeopardize your hard owned assets, consider a Personal Umbrella Policy!

How Do I Obtain A Personal Insurance Policy?

Speak with one of our agents for a free Umbrella quote and to learn about the extra millions of dollars worth of coverage it comes with, 806-763-7311. Many times our insurance companies will give a discount on your home/auto insurance if you purchase an Umbrella Policy to cover them. Umbrella policies are cheaper than most think and certainly cheaper than losing all of your assets! Let us help you and your family stay protected! www.shropshireinsurance.com 
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