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Insurance for North Carolina State Firefighter Association

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The holidays are a time when more people are on the roads and when you’ll probably have more people visiting your home than usual. Whether you’re driving your car or hosting a gathering, it’s important to make sure you have the protection you need in case an accident happens.

No one likes to think about their liability during the holidays, but failing to protect your exposure to a legal claim can cost you. Fortunately, it doesn’t have to be that way. Most people have heard of umbrella insurance – and maybe you have too – but did you know what it is and how it can protect your liability during the holidays?

What Is an Umbrella Insurance Policy?

Umbrella insurance is a type of liability coverage you can use to extend the liability coverage of your auto or homeowner’s insurance. When you are at fault for an accident, umbrella insurance covers injury or property damage that happens to the other party.

Keep in mind, however, that it doesn’t cover your injuries or property damage, and it only kicks into action when your auto or homeowner’s liability coverage isn’t enough.

For Example: Let’s say you’re racing around town and trying to get all of your holiday shopping done. Your mind is on making sure you get everything you need, and you don’t notice the car ahead of you is stopped. You rear-end the vehicle, and the other party later claims they suffered a herniated disc and require surgery to treat it.

Your auto liability insurance coverage may only cover a portion of the other party’s medical costs. If you don’t have umbrella insurance, they can sue you for damages exceeding your auto insurance coverage limits. With an umbrella insurance policy, however, you can protect your assets from these types of scenarios.

How Much Coverage Does Umbrella Insurance Provide?

Typically, umbrella insurance policies start at $1 million in extended liability coverage, but they can go much higher. While you can’t file an umbrella insurance claim for your own injuries or property damage, having this type of insurance can provide you with assurance and protection for your personal assets.

How Much Does Umbrella Insurance Cost?

Typically, umbrella insurance policies cost around $150 to less than $400 annually. The exact cost of your policy will depend on where you live, your net worth, and how much coverage you intend to purchase.

For many people, especially those who are particularly concerned about their liability, this is a highly affordable insurance product to consider!

How Do I Get an Umbrella Insurance Policy?

Shopping for insurance can be a hassle, but you can get a policy that’s right for you with help from Insurance Specialists, Inc. Our experts understand our customers’ needs when it comes to purchasing vital types of insurance coverage, so rest assured that we can help you find the umbrella insurance policy you need to feel more secure.

Learn more by contacting us today. Get started now by sending us an online message or calling (888) 451-0883.