Every week at the Mauceri Group it is our goal to provide you with a free informative insurance article. We want to make sure that you get a cheap quote, while still understanding all the coverages you may need from your local insurance agent.
A policy many people do not consider when they are purchasing insurance is the Umbrella policy. This is a mistake; everyone should at least consider purchasing one, and all the major insurance companies -
Travelers,
Safeco, StateFarm,
Nationwide – offer them. Umbrella policies are especially important if you as the insured have a great deal of assets. The policy works by providing you an excess of liability, should you need it, over both your auto and your home.
What this means is; if you are driving your car in downtown Dallas with a liability limit of $250,000, and you get into an accident where you are liable for over that limit – your umbrella will come into play and cover you.
This same concept applies to
Homeowners liability as well. Let’s say that you live in Keller, Grapevine, Plano - or any of the other towns in the DFW area – and someone is injured at your house, an injury that you are liable for. You have a liability limit of 100,000 on your home owner’s policy. You are liable for 125,000. If you have an Umbrella policy, it will kick in and cover your additional liability. If you don’t, there is a chance that 25,000 will come out of your pocket.
So, next time you are looking for a cheap insurance quote for your homeowners or
auto policy, consider looking into an umbrella as well. With the right local agent, you can save money and get the coverage you need!
