Question I realize how destructive lawsuits can be, so I’d like to have enough coverage to protect all of my personal assets. But I’m not sure whether I can afford it. What does umbrella coverage cost?
Farmers Insurance® agent Matthew McCarter of Chester Springs, Pennsylvania, explains why umbrella coverage can be an affordable choice for households.
Answer First, let’s look at how an umbrella policy — or personal umbrella as I call it — helps you protect your assets. Your auto and home policies provide liability coverage up to a certain limit. But what if the value of your assets exceeds the limit on either policy?
The personal umbrella gives you additional liability coverage — over and above the limit on your home or auto policy. With an umbrella, you can get $1 million to $10 million in extra coverage, available in $1 million increments. Those are some pretty big numbers, but umbrella insurance can be very affordable in relation to the amount of coverage it provides. In other words, you get a lot for your money. Farmers customers usually start considering umbrella coverage once their net worth is more than the liability limit on their home or auto policy.
Talk to an agent about an Umbrella Insurance policy today.
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