If someone is injured in an accident where you’re at fault, medical bills can bankrupt you without an umbrella policy.
What is umbrella insurance?
Edwards Insurance Agency
An umbrella insurance policy is a type of personal liability insurance that offers additional coverage in the event that you are liable for a claim in excess of your current homeowners, auto, or watercraft coverage. It can even protect you against claims of libel, slander, and false imprisonment.
Who needs umbrella coverage?
Edwards Insurance Agency
Anyone can benefit from an umbrella insurance policy, but it is particularly important for someone who’s assets – including home, retirement accounts, and checking and savings accounts – add up to less than the total coverage of your insurance policies. If not, you could potentially lose everything in a lawsuit without additional coverage.
Unfortunately, we live in a lawsuit-heavy world. Anyone can sue you for anything and any amount, and they may win, dealing you a financially devastating blow. Though you may think, “That won’t ever happen to me,” it happens more often than you think.
If you believe you could ever be at risk for being sued, buying an umbrella policy can bring you much-needed peace of mind.
Examples of situations when you need umbrella insurance:
Here’s how umbrella insurance works
Let’s say you’re at fault in a multi-car accident. Your car insurance only covers $500,000 in damages, but the medial bills of the passengers in the other cars add up to $750,000. You’re sued for $250,000, and the judge rules against you.
Your car insurance will cover the initial $500,000. If you do not have an umbrella policy, you’ll be liable for that extra $250,000 out of pocket.
With an umbrella policy, however, that policy will cover the additional $250,000 as well as your attorney costs and courts fees.
What umbrella insurance does not cover
Umbrella insurance doesn’t cover everything. It does not cover:
- Your personal property
- Business liability
- Damage that you or a member of your family caused on purpose. If you accidentally run your car into another car, you’re covered. But if you intentionally run your car into another car, you’re not.
What Our Clients are Saying…
Great team looking out for their clients. They are always available to give advice and point you in the right direction with your insurance needs! I know they have my family protected with the right home and auto coverage!
I made the change to Edwards Insurance about 10 years ago and I haven’t looked back! Tripp and Pepe are on top my needs and proactively reach out to me with savings when they see the right opportunity for me. I actually recommended that my dad move thing over to Tripp and they take good care of the old man. We are not a number with them, you can tell that they care about us.
Edwards Insurance handles all of our personal and business insurance. The customer service that we receive is the best we have ever dealt with. The rates are always competitive. They truly know how to take care of our family and our business. Tripp and Pepe and their team are top notch and could not imagine ever going anywhere else! Thank you for everything you all do for us!
We think you all are the absolute best people and the best insurance company we have ever worked with. We know Tripp and Pepe care about us and always take the time to help us with all of our needs with a smile on their face! Can’t say enough good things about Edwards Insurance!
I am so happy I was referred to Edwards Insurance Agency during my move to South Carolina. Miranda Pittman made my transition during a very busy time stress-free writing new policies for homeowners, auto, and golf cart insurance. I feel confident in my coverage and the ease of working with the team at Edwards is such a refreshing customer service experience!