Umbrella Insurance: Your Protection from Legal Storms

Most people do not carry enough personal liability insurance to protect them in the event of a lawsuit. Your auto and home insurance policies include limited liability coverage, but you should consider umbrella insurance — additional liability coverage beyond those policy limits. If you are sued, your liability insurance will pay for your legal defense and damages.

Umbrella insurance starts to pay after the liability limits on an auto or homeowners insurance policy have been exhausted or when the other policy won’t cover the claim at all. When deciding whether to purchase a policy, consider how you will cope financially if you don’t have adequate protection.

As an independent insurance agency, we offer a variety of umbrella policy options from reliable companies. Contact our Mankato or Edina office to speak with an agent to discuss your level of risk and compare quotes.

Reasons to Purchase Umbrella Insurance

• Your profession (counselor, teacher, personal trainer) brings you into contact with vulnerable people.
• It is affordable. Usually for just dollars per month, you can add a million dollars of protection to your car insurance and home insurance.
• It offers personal liability protection worldwide, so when you travel to a foreign country, you are covered.
• It protects against a broader list of personal injury situations than your homeowners insurance, including libel, slander and invasion of privacy.
• If you hire a nanny or farm hand, your umbrella insurance will pay for their medical care and other costs if they are injured in an automobile accident while running errands for you. 

What Will Happen Without Liability Insurance?

Umbrella insurance protects your assets. In the event you are ordered to pay damages, your insurance will pay to its limits—then the injured party may ask the court for your car, valuables, equity in your home and your wages. How much umbrella coverage you need depends on what you have to lose.

Peace of Mind for a Reasonable Cost

If you need liability insurance, a policy may provide millions of dollars of protection for a few hundred dollars each year. As your assets or your exposure grows, your needs may change. Contact the James Weir Agency to discuss your situation. Our agent will advise you on your options and help you compare umbrella insurance quotes from several sources.