- 402-614-3307
- 402-614-3307
Life can be unpredictable. You may hold a party at your swimming pool, then a guest slips. Your pet can run rogue, biting a passerby. Your teenage son could steal your car and end up causing an accident that injures several people. While these instances are not intentional, you could be held responsible for the damage and injuries. And without umbrella insurance from Insurance Solutions of Omaha in Omaha, NE, your assets and savings could be at stake.
Given that life can throw curveballs at you, you need a suitable insurance plan to save yourself in the hour of need. Thankfully, umbrella insurance can be your friend when life happens.
It’s a separate coverage on top of your conventional insurance policy ( it could be a boat, home, or auto insurance plan) that provides you with broad liability coverage. Umbrella insurance takes over from where your traditional liability insurance coverage leaves off.
Umbrella insurance comes in handy when faced with significant liability claims. For instance, suppose you have auto liability insurance of $200,000. Imagine you are at fault for an accident that costs $400,000 in damages and bodily injuries. Without umbrella insurance, you may have to cover the difference of $200,000 from your pocket!
It’s worth noting that umbrella insurance is a liability insurance policy, meaning that it covers other people but not you and your property. Generally, umbrella insurance provides the below protection:
The best part about umbrella insurance is that it also cushions against lawsuits by covering several costs, including attorney fees and settlement claims.
If you have assets and are at risk of being sued, you need umbrella insurance. Consider umbrella insurance today if you:
Looking for umbrella insurance in Nebraska? Why don’t you contact Insurance Solutions of Omaha in Omaha, NE for a quote?
It's worth considering if you own a home, have savings or investments you'd want to protect, host guests often, or have added risk factors like a pool, trampoline, dog, teen driver, or rental property. Even households without significant wealth can be at risk, since a serious lawsuit can also pursue future earnings, not just what you already have.
An umbrella policy sits on top of your existing coverage rather than replacing it, so you'd still file a claim with your auto or home insurer first. Once that policy's liability limit is exhausted, the umbrella policy takes over and continues paying up to its own limit, which is why most insurers require you to carry certain minimum liability limits on your underlying policies before they'll write an umbrella.
A common approach is to choose coverage that matches or exceeds your net worth, since that's generally what you'd have at risk in a serious lawsuit. Umbrella policies are typically sold in increments starting at $1 million, and your agent can help you weigh your assets, risk factors, and budget to land on the right amount.
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