• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

NOEL Insurance

Quietly Doing Things Better Since 1960

Call Us Today! 641-682-7533
  • Home
  • Products
    • Personal Coverage
      • Auto Insurance
      • Homeowners Insurance
      • Umbrella Insurance
      • Farm Insurance
      • Boat Insurance
  • Blog
  • Claims
  • Policy Service
  • About Us
  • Contact Us

DO I REALLY NEED UMBRELLA INSURANCE?

By Kathryn Smith on April 7, 2015 0

4 COMMON SCENARIOS YOU MAY FACE

Insurance exists so you can tackle the unexpected without shelling out all of your hard-earned savings (and then some).  Umbrella insurance goes a step beyond that – it extends the limits of your primary policies, rendering your coverage that much more valuable.

Though your home and auto policies offer extensive protection, there’s always the possibility that an unfortunate incident could wind up costing you hundreds of thousands or even millions of dollars in legal fees or property damage.  And then what do you do?  That’s where umbrella insurance come to your aid.

An umbrella insurance policy kicks in after you have a costly accident once you’ve exceeded the limits of your home and auto policies.  Here are 4 scenarios in which it could come to your aid.

1.  If you get into an accident involving multiple cars

You’re a responsible driver, so you have car insurance.  Seems simple enough, right?  But if you’re ever found at-fault for a major accident involving several cars carrying multiple passengers, your auto coverage may not cover enough to keep you from digging deep into your savings (or going deep into debt).  Even if everyone involved walks away unscathed, the damage to the cars alone could cost far more than traditional auto insurance covers.

2.  If a visitor is injured

Got a swimming pool, trampoline, or playground equipment in the back yard of your home?  If you child has a friend over after school and they suffer a serious injury while playing, you could be responsible for some hefty medical bills and an expensive lawsuit.  While a homeowners insurance policy offers liability protection, you’re stuck paying for anything over your coverage limit.  That’s where umbrella insurance comes in handy.

3.  If you’re a landlord

Whenever you rent to a tenant, you’re opening yourself up to greater risk.  If someone renting a place from you is injured on your rental property, for instance, they could possibly bring a lawsuit against you.  And though you probably have landlord insurance (or at least you should!), it’s smart to secure your savings with some additional coverage.  Aside from requesting or requiring that tenants purchase renters insurance to protect their belongings and liability, your best bet for protecting your own liability is umbrella insurance.  It’s great just-in-case coverage – especially if you own more than one property.

4.  If your dog bites someone

Let’s say you’re taking your beloved pup for a stroll around the block.  If your dog nips and injures a stranger, it could potentially cost you thousands of dollars in medical treatment and maybe even bring about a nasty lawsuit.  Dog-bite liability claims can be incredibly costly, depending on the damage done by your 4-legged friend.  And if you max out any protection you may have on your homeowners policy, that gap in coverage could easily be thousands more than you’ve got in the bank.  An umbrella policy could help save you and your pooch from financial ruin.

Added protection with umbrella insurance

Umbrella insurance is a valuable resource for anyone who could be liable for an accident worth more than they’ve got in the bank.  Plus, protection even extends to other people in your household.  Contact us for a quote today!

SOURCE:  https://www.esurance.com/info/umbrella/do-i-really-need-umbrella-insurance

 

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Connect With Us

  • Facebook

Phone

641-682-7533 Office
641-682-8804 Fax

Address

219 W. Fourth Street
P.O. Box 370
Ottumwa, IA. 52501

Primary Companies We Represent

Aflac
Allied Insurance
American Modern Home
Auto-Owners
Concorde General
Dairyland
Employers Mutual
Farmers Mutual Hail
Foremost
Grinnell Mutual
GuideOne
Hagerty
Hartford Steam Boiler
I.M.W.C.A.
Iowa Communities Assurance Pool (ICAP)
Merchants Bonding
Midwest Mutual Insurance Company (MMIC)
National Specialty
Pekin
Progressive
QBE
Safeco
ULICO Casualty
Wellmark
West Bend Mutual
  • Facebook
  • Home
  • Products
  • Blog
  • Claims
  • Policy Service
  • About Us
  • Disclaimer
  • Privacy Policy
  • Contact Us

© 2004 – 2025 NOEL Insurance - All Rights Reserved | Developed by Ten Foot Table.