Umbrella Insurance—Take Cover from the Storm

Some accidents or incidents may result in such serious injury that your regular auto or homeowner’s coverage limits will be exhausted before a victim can be fully compensated.

What happens then?

You get sued. Suddenly, you’re at risk of losing a large and damaging liability claim against you. Now your business, your home, and your way of life are all in jeopardy.

Take cover from the storm with Umbrella Insurance. Incredibly affordable, umbrella insurance provides coverage in the gaps created when your underlying liability limits have been reached.

A Shield of Protection for the Future

Legal fees, large settlements and judgments can ruin you if you’re not protected.

For example, if a guest in your home fell down your steps and suffered grave injuries that resulted in astronomical medical bills, loss of work, emotional distress, and a lengthy recovery period, they might sue you. Should the courts determine you are liable and the guest wins a judgment against you, your homeowners insurance would only cover the judgment up to your policy liability limit.

If the judgment exceeds that limit, you will be obligated to pay out of pocket. That could mean your retirement account, a lien on your home, wage garnishment, and the loss of your savings.

An umbrella insurance policy gives you a shield of protection for the future, because it’s coverage begins where other policies leave off.

What Will Umbrella Insurance Cover?

Umbrella Insurance coverage extends to multiple areas. Some of those include your liability for:

  • Serious injury: If your Pitbull bites a neighbor child or a guest is injured when your deck collapses, your umbrella insurance would cover costs once your homeowners liability limit has been reached.
  • Property damage: If you’re determined to be at fault in an auto accident where the other vehicle or vehicles sustain significant damage or are destroyed, umbrella insurance would cover costs beyond your auto insurance liability limits.
  • Rental property: As a landlord, you are liable for maintaining a safe environment at your rental property. If you are negligent and a tenant is hurt, they may sue. Umbrella insurance would cover the costs.
  • Libel or slander: In these days of far-reaching social media, someone may sue you if you write or say something about them they consider slanderous. Should they win a judgment against you, you may have to count on the protection of umbrella insurance if your homeowners insurance coverage runs out.

Should You Be Covered? Call Us to Learn More Today.

Find out if you’re a good candidate for umbrella insurance. Contact one of the licensed insurance professionals at the Thomas Ward Insurance Group. We’ll help you find the right policy to make sure you and your future are protected. Call 312.254.1500 today to get a quote or learn more.