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At the Hinton Insurance Agency we have one motto when speaking with all of our clients.
Never leave our home without an Umbrella!
In the simplest of terms, an Umbrella Policy is an insurance policy to protect you against liability lawsuits. As long as you have an underlying insurance policy an Umbrella will do just that Umbrella over your existing policy.
How does an Umbrella Insurance Policy Work?
If you have your auto insurance coverage and you are covered for 250/500/250 an Umbrella Insurance Policy would provide you coverage beyond those liability limits. If you have a homeowners policy with $500,000 in liability coverage, an Umbrella Policy would cover you above that $500,000.
We calculate risk in a simple way. Let's look at the likelihood of something happening against the cost if it does happen. For an Umbrella Policy, what chance do you have of being sued? Ok, now if you were to be sued, how much could that cost??? So a small % chance, however a huge dollar amount, right? That is why we all have an Umbrella Policy.
In this day in age it seems our country has become very litigious in nature. Every time you turn around someone is getting sued for something. Some clients we have spoken to think an Umbrella Insurance Policy is just for added Liability Coverage inside your home.
Did you know that if done properly your Umbrella Policy can cover you against lawsuits arising from Defamation?
Give us a ring, and let us show you are Umbrella Policies!