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Compare Umbrella Insurance

Even if you have adequate insurance for your car, house or small business, a lawsuit can stop you in your tracks. That's where umbrella insurance comes in. Umbrella insurance provides a low-cost tool to allow policy holders to cover liability that exceeds the limits of their conventional insurance coverage and which could otherwise jeopardize their financial future.

The Advantages of Umbrella Insurance

As a policy to bridge the gap between conventional insurance and the potential liability that could result from a lawsuit, umbrella insurance has three important advantages.

  • Liability coverage for 1 million dollars – or more
  • Coverage for defense legal fees which often total more than 100,000 dollars
  • Coverage for liabilities not covered by conventional insurance policies

Who Needs Umbrella Insurance?

Professionals such as physicians and attorneys routinely carry large malpractice insurance policies to protect themselves and their personal assets against losses related to their line of work. Umbrella insurance follows a similar principle as malpractice insurance, but is available to individuals who would have no reason to purchase malpractice insurance. You may not believe that you need umbrella insurance – but it's not outside the realm of possibility that you might.

For instance, if you rent a car and are involved in an at-fault accident overseas, your regular auto insurance may or may not cover your liability. Extending the anecdote further, let's say that the person you injured was the CEO of a significant corporation, also on vacation, and was out of action for six months. That CEO could sue you not only for her medical expenses, but for the expense of her ruined trip, the cost of being repatriated to her home and for her lost wages, not to mention pain and suffering. Without umbrella insurance coverage, you could potentially be on the hook for an amount well into six figures, if not seven. It's easy to see how even one such lawsuit could ruin your financial future.

Umbrella Insurance – Great Protection at Modest Cost

Umbrella insurance is not expensive. Typical policies cost about 150 to 200 dollars for the first 1 million dollars in coverage, and about 100 dollars for every additional 1 million dollars of coverage. That's an inexpensive investment to make to ensure that your small business, home and financial future are protected. This is not to say that everyone needs umbrella insurance. But if you’re in a position to potentially (unintentionally of course) cause great physical or financial harm to another person, you should consider obtaining an umbrella insurance policy. Don't wait until you're being sued – by then it's too late.

Compare Umbrella Insurance

Even if you have adequate insurance for your car, house or small business, a lawsuit can stop you in your tracks. That's where umbrella insurance comes in. Umbrella insurance provides a low-cost tool to allow policy holders to cover liability that exceeds the limits of their conventional insurance coverage and which could otherwise jeopardize their financial future.

The Advantages of Umbrella Insurance

As a policy to bridge the gap between conventional insurance and the potential liability that could result from a lawsuit, umbrella insurance has three important advantages.

  • Liability coverage for 1 million dollars – or more
  • Coverage for defense legal fees which often total more than 100,000 dollars
  • Coverage for liabilities not covered by conventional insurance policies

Who Needs Umbrella Insurance?

Professionals such as physicians and attorneys routinely carry large malpractice insurance policies to protect themselves and their personal assets against losses related to their line of work. Umbrella insurance follows a similar principle as malpractice insurance, but is available to individuals who would have no reason to purchase malpractice insurance. You may not believe that you need umbrella insurance – but it's not outside the realm of possibility that you might.

For instance, if you rent a car and are involved in an at-fault accident overseas, your regular auto insurance may or may not cover your liability. Extending the anecdote further, let's say that the person you injured was the CEO of a significant corporation, also on vacation, and was out of action for six months. That CEO could sue you not only for her medical expenses, but for the expense of her ruined trip, the cost of being repatriated to her home and for her lost wages, not to mention pain and suffering. Without umbrella insurance coverage, you could potentially be on the hook for an amount well into six figures, if not seven. It's easy to see how even one such lawsuit could ruin your financial future.

Umbrella Insurance – Great Protection at Modest Cost

Umbrella insurance is not expensive. Typical policies cost about 150 to 200 dollars for the first 1 million dollars in coverage, and about 100 dollars for every additional 1 million dollars of coverage. That's an inexpensive investment to make to ensure that your small business, home and financial future are protected. This is not to say that everyone needs umbrella insurance. But if you’re in a position to potentially (unintentionally of course) cause great physical or financial harm to another person, you should consider obtaining an umbrella insurance policy. Don't wait until you're being sued – by then it's too late.

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Liberty Mutual

Liberty Mutual

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GEICO

GEICO

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Allstate

Allstate

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American Family

American Family

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Amica Mutual

Amica Mutual

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Encompass

Encompass

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Mercury

Mercury

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Progressive

Progressive

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Safeco

Safeco

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The Hartford

The Hartford

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