By Citizens Insurance
If you carry auto or homeowners insurance, you may be asking yourself… "do I really need an umbrella policy, too?" The short answer is yes.
An umbrella policy kicks in where your homeowners and auto policies leave off – providing you with extra protection and peace of mind should the unexpected happen and a claim or lawsuit be filed against you.
Most of us participate in activities every day that put us at risk. Here are some real-life activities that signal you should carry an umbrella.
Drive a car
Walk your dog in your neighborhood or local park
Have teenagers who drive your car or their own
Carpool with other families
Watch your friends' children or utilize babysitters in your home for your children
Entertain family and friends at your home
Use social media or have a child who does
Allow your children's friends to hang out at your house
Own recreational vehicles like boats, motorcycles, jet skis, and golf carts
Have a swimming pool or trampoline
Employ a house cleaner
Hire someone to cut your lawn or plow your driveway
Order online and have packages delivered to your home
Volunteer and/or serve on a board
Coach, referee or umpire youth sports
According to Commongood.com, Americans file approximately 15 million civil lawsuits annually. With an umbrella policy of $1 million starting at about as little $20 a month, it is one of the most cost-efficient ways to protect your family and assets. Additionally, raising the deductible on your homeowners policy from $500 to $1000 typically reduces your homeowners premium enough to cover the cost of a $1 million umbrella policy. Watch the short video above to learn more about umbrella coverage.
Disclaimer: This article is provided for informational purposes only and does not purport to address every possible legal obligation, hazard, code violation, loss potential or exception to good practice.
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