Should You Have An Umbrella Policy?

Most homeowners policies include liability protection. And many homeowners never give a second thought to whether that protection is enough.

If someone gets injured on your property, you could be held liable by a court for damages. Your liability coverage would pay for those damages — but only a certain amount.

What would you do if the damages exceeded the amount your policy covers?

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Stay Protected With Extra Liability Coverage

Owning a home means being exposed to all kinds of different risks. An umbrella policy can help protect you from some of those risks.

If someone gets seriously hurt on your property, your umbrella policy will cover the damages above what your homeowners policy is willing to pay for. And even if you won your case in court — and weren’t held liable — there are still those expensive lawyers’ fees to pay. Your umbrella policy can cover those, too.

An Investment For Homeowners

Umbrella liability policies used to be considered “luxury policies” for wealthy people. But not any more. With lawsuits always on the rise, all homeowners should consider umbrella protection.

Umbrella policies are affordable. For about $200 a year, you can get as much as $1,000,000 in protection. And if you get your umbrella policy and your homeowners policy through the same company, you could save on both of them.

How Much Coverage Is Enough?

All homeowners could benefit from having more liability coverage, but some need it more than others do.

If you own a swimming pool or a trampoline, you should think about having several million dollars in extra coverage. Anyone with a large or aggressive dog should also consider getting an umbrella policy.

To get an umbrella policy, you need to have a homeowners policy already in effect. And umbrella policies usually have very high deductibles — because they don't start paying out until your homeowners insurance has reached its maximum payout.

If you think an umbrella policy is a smart investment for you, talk with an insurance agent. You can use our free homeowners quote service to get matched with local agents in just minutes.