Gain Extra Protection with an Umbrella Insurance Policy
Medical costs are on the rise, as are legal costs related to personal injury defense. Why does this matter for you? Because without the right insurance in place, you are leaving your family open to the risk of losing your home and your savings.With an umbrella insurance policy, however, you gain that important protection.
At VGW Insurance in Plano, TX, we have been working with families for nearly 20 years, helping them find the right balance between risk tolerance and protection. For most of our clients, we have found that the umbrella policy is they cannot go without. We imagine such is the case for you, as well. Pick up the phone and call us at 972-668-1000 to learn if this is true for you.
What Is Umbrella Insurance?
Umbrella insurance is coverage that offers additional legal and financial protection for you and your family. Specifically, it offers these two benefits you will not find with your home insurance policy or your auto insurance policy:
- Additional financial protection: Your personal injury limits on your home or auto policy can easily cap out in the event of a serious accident. An umbrella policy, sometimes referred to as an excess liability policy, steps in once you exhaust your base limits to provide additional payments and to protect your own personal savings.
- Additional legal protection: Unlike your home insurance policy, an umbrella policy covers the personal injury claims of libel, slander and defamation. It also covers legal defense costs and attorney fees.
A special feature about umbrella insurance is that it applies to injuries and accidents that occur anywhere in the world and in any vehicle in the world.
Do I Really Need an Umbrella Policy?
In short, yes. We believe that every family can benefit from umbrella insurance. This is especially true considering many policies only cost pennies on the day. That being said, there are certain circumstances that absolutely call for umbrella coverage, including:
- Family net worth greater than $500,000: Remember, your net worth includes all assets, including retirement savings, stocks, bonds, homes, automobiles, collections and more.
- Homes with swimming pools or trampolines in the backyard: Pools and other toys often lead to greater risk of injury.
- Young drivers: Teen drivers account for approximately 30 percent of motor vehicle injuries. Teens are also more likely to engage in dangerous behavior behind the wheel due to inexperience and peer pressure.
These are only a few examples of many where we know umbrella policies are necessary to protect our clients’ way of living. Talk to us about your situation and we will give you an honest assessment of whether you should carry excess liability coverage.
Contact Our Knowledgeable Team for a Free Umbrella Insurance Quote
An umbrella policy can provide liability protection above and beyond your existing home, auto or boat insurance policy. Learn more about this coverage option by calling us at 972-668-1000 or by contacting our Dallas-Fort Worth area office online .