Umbrella Insurance
Umbrella Insurance: Protection That Goes Above and Beyond
When life rains down on you, make sure you’re covered. Umbrella insurance provides an extra layer of protection to safeguard your financial future against unexpected accidents, claims, and more.
What is Umbrella Insurance?
Like the name suggests, umbrella insurance offers broader protection to shield you from a variety of financial risks. While your standard insurance policies may cover certain damages or liabilities, umbrella insurance helps protect you against the unexpected.
Umbrella insurance is a liability policy—meaning it doesn’t cover:
- Your own medical expenses.
- Losses to your property.
However, it does provide additional coverage for situations like:
- Injuries you cause in a car accident.
- Injuries someone suffers on your property.
- Property damage you cause in an accident or that your pet causes.
- Legal fees if you’re sued.
Think of it as a safety net that picks up where your other policies leave off—often at a much lower cost than raising the limits on your existing insurance. And because umbrella insurance is typically portable, it covers you even when you travel—domestically or internationally.
Since umbrella insurance policies vary by carrier and personal needs, the Sprouse Insurance/OneDigital team is here to guide you through the options and ensure you get the best coverage for your situation.
Who Needs Umbrella Insurance?
While umbrella insurance is often thought to be for people with significant assets, anyone with a steady income could benefit from this extra layer of protection.
Consider this scenario: If someone were to slip and fall on your property and suffer severe injuries, they may sue you. Your homeowners insurance would cover part of the costs, but what if the jury awards $500,000 above your policy limits? How would you pay that off with your weekly paycheck?
That’s where umbrella insurance steps in. It picks up the excess cost, often covering up to $5 million, sparing you from a financial disaster.
Are Umbrella Policies Expensive?
Compared to the level of protection it offers, umbrella insurance is surprisingly affordable—especially since it’s unlikely you’ll ever need to make a claim. Your premium will depend on factors like:
- The amount of coverage you select.
- The insurance carrier’s provisions.
- Your personal risk profile and driving record.
One of the best ways to save on umbrella insurance is by bundling it with your home or auto policies. We can help you explore the options available to maximize savings while ensuring you have the right coverage.
Why You Need Umbrella Insurance
Over time, you’ve worked hard to achieve your goals and accumulate assets to enjoy a comfortable life. Whether it’s a home, a car, or a lifestyle you’ve built, you’ve taken steps to protect your property. But when life throws the unexpected at you, your standard insurance might not be enough.
For example:
- What are your liability limits on your auto or home policies? $300,000? $500,000?
- If you’re involved in an accident or someone is injured on your property, and the court awards a judgment that exceeds your policy limits, how will you pay?
Without umbrella insurance, you could be forced to pay out of pocket, risking your savings, assets, and even future earnings.
Why People Sue: It’s Easier Than You Think
In today’s world, three things work against you when it comes to lawsuits:
- It costs nothing to file a lawsuit.
- Juries and judges are unpredictable.
- Defending yourself can be expensive—and if you lose, you may be responsible for damages far beyond your policy limits.
Unfortunately, in many cases, people sue because they can. Don’t let an unforeseen accident destroy everything you’ve worked for. Umbrella insurance offers peace of mind, knowing you’re protected no matter what comes your way.
The Sprouse Insurance/OneDigital Difference
At Sprouse Insurance/OneDigital, we know that one-size-fits-all insurance doesn’t work. That’s why we go the extra mile to help you understand your options and tailor your coverage to fit your unique needs. While many providers offer similar products, it’s how those products are structured that makes all the difference.
We’re your neighbors, and we care about the well-being of those in Northwest Ohio. Let us help you choose the right coverage from trusted carriers that offer both affordability and comprehensive protection.
Click the quote request button now, and let our professionals at Sprouse Insurance/OneDigital help you secure the protection you deserve.