Though you may have many personal insurance policies, it can be easy to think that you have enough coverage for any situation. However, being involved in just one lawsuit can be enough to financially devastate you if you don’t have enough insurance coverage. Investing in the right personal umbrella insurance policy is the best way to make sure that you and your families are protected from any peril.
Personal umbrella insurance policies provide protection past the liability of all other insurance policies. The coverage provided by your umbrella insurance policy “kicks in” once the liability of your other insurance policies end.
A typical personal umbrella insurance policy provides $1 million in coverage, and can then increase in million dollar increments. While this may seem like much more coverage than a typical person needs, it usually isn’t.
Consider if you caused a serious car accident, and the other driver was injured and could no longer work. They could choose to sue you for the lost wages while they’re out of work. If you happened to hit a doctor who made $800,000 a year, chances are your existing auto insurance policy wouldn’t provide enough protection. If your auto insurance policy only had $500,000 worth of liability coverage, you’d be left paying $300,000 out of your pocket. If you’re not able to come up with that amount of money, your wages could be garnished to cover the cost.
For all of your personal umbrella insurance needs, contact Lou Aggetta Insurance Services in Pleasant Hill, California. We’ll work with you to ensure you have the right amount of coverage for your specific situation, all at the right price.