Umbrella Insurance
Umbrella insurance adds a layer of liability protection on top of the limits you already carry on your home and auto. If you are ever sued for more than those policies cover, the umbrella picks up the rest, up to its own limit. It is some of the least expensive protection you can buy for the amount of coverage you get.
Most people do not think about umbrella coverage until one of two things happens. These are the moments we tell clients to call.
When a Teen Starts Driving
The day a teen driver joins your auto policy, your household’s risk goes up. New drivers are more likely to be in a serious crash, and if your teen causes an accident that injures someone, the costs can climb past your auto liability limit fast. Medical bills, lost wages, and a lawsuit can add up to far more than a standard policy covers.
An umbrella policy sits above your auto limits and covers the gap. For many families, adding a teen driver is the single best reason to put an umbrella in place. Call us when your teen gets their license, and we will price it with your renewal.
After You Buy a Home
When you buy a home, you build equity, and over time you build savings and other assets. A lawsuit does not stop at your insurance limits. It can reach your home equity, your savings, and your future income.
Umbrella insurance protects what you have worked to build. If someone is hurt on your property or in an accident you are responsible for, the umbrella covers claims above your homeowners insurance and auto insurance limits, so a single bad day does not put your net worth at risk.
How Much Coverage, and What It Costs
Umbrella limits usually start at $1 million and go up from there. A good rule is to carry at least enough to cover your net worth. Because the umbrella only pays after your home and auto limits are used up, the price is low for the protection it adds. We will look at what you own, check that your underlying limits qualify, and quote the right umbrella limit for your household.
Talk to a Broker
Peterson & Grantham is an independent broker, so we shop your umbrella and your underlying home and auto together to keep the whole package priced right. Call (916) 431-0400 or request a quote online.
