Is Umbrella Coverage Really Necessary?

Let me tell you why I think it is, and you tell me.

What is an Umbrella Policy?

An Umbrella Policy is exactly how it sounds. It is the ultimate protection over you and your assets. You may be thinking, “well I already have auto insurance, and I already have homeowners insurance. Why would I need an umbrella policy?” Your coverage for your Average Home and Auto policies only take you so far. You may not have enough coverage if a claim were to happen.

Do you know your coverages on your Home and Auto if you were to have a loss?

The average person has 50/100/50 for auto liability. That means if you hit someone, and they hit someone else and you totaled both vehicles, you would have 50,000 to cover both cars. Let us hope they do not have a luxury car. If each of the cars had two people in them, you have 50,000 in coverage for each person’s injuries but only 100,000 max for everyone. Let’s hope nothing is broken. But hey, what if they want to sue you. Or worse, what if you killed someone in an accident. Do you think you have enough coverage then? Absolutely not. That is where Umbrella comes in. With a minimum of 1,000,000 in liability coverage over your existing policies. This is the ultimate coverage.

Do not think “this could never happen to me” Because trust me, you do not want to wait and find out. Better be safe than sorry. Spivey has a team of agents that explains this to you and makes you aware of all coverages needed for you and your family. Does your current agent look out for you like this?

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