The skies the limit when it comes to liability claims. If you should injure another party in an accident, you may find the $250,000 limit on your automobile policy won’t be nearly enough to protect your assets. This is where an umbrella policy comes into play. If you purchased a $1,000,000 policy you would have the comfort of mind that you are protected up to that $1,000,000 limit. The first $250,000 would be covered by your automobile policy and the final $750,000 would be covered by the Umbrella Policy.
Most insurance companies require a minimum level of liability coverage on your home and automobile policies before purchasing an Umbrella policy. Once that minimum is reached, a $1 Million Umbrella policy can be as cheap as $250 per year, while an increase to a $2 Million Umbrella policy may only cost an additional $100 above that. Even more coverage is available if you find it prudent. You may also be eligible for a discount on your automobile and/or home insurance policies with the purchase of Umbrella insurance.
You don’t have to be 100% at fault to be found liable in court. Don’t take risks with your assets (example: home, bank accounts, stocks, bonds, 401k, etc.). Contact an associate at Zawada Insurance at (508) 831-0133 to discuss your options today. We’re happy to answer any questions you might have.
Zawada Insurance Agency, Inc. is a Trusted Choice Independent Insurance Agency located in Worcester, MA. We have been helping individuals with the automobile, home owner’s and umbrella insurance policies since 1989.