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.
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.
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.