Umbrella insurance is one of those policies many people overlook until they realize how exposed their assets really are. It’s not just for the wealthy or business owners; it’s for anyone who could face a claim larger than what standard home or auto insurance will cover. Think of it as an extra layer of protection that steps in when everything else runs out.
How Umbrella Insurance Works
An umbrella policy through Southern Risk Associates, serving Foley, AL, extends the liability coverage across your existing home and auto policies. For example, if you cause a car accident and the damage exceeds your auto insurance limits, your umbrella policy pays the remaining balance up to its limit. The same applies to your home insurance if someone is injured on your property or you’re found legally responsible for an accident involving another person’s property.
This coverage doesn’t just protect your savings; it also shields your income, investments, and any future earnings from being targeted in a lawsuit. For many households, that peace of mind is worth the modest premium it costs each year.
What It Covers Beyond The Obvious
Umbrella insurance also extends your coverage for slander, libel, or false arrest. It can even apply worldwide, protecting you if an incident occurs while traveling. Most policies start at $1 million in coverage and can go much higher depending on your needs.
Why Personal Umbrella Insurance Is Worth Considering
Even one serious accident can result in costs that overwhelm traditional home or auto insurance limits. Without an umbrella policy, you’d have to pay the difference out of pocket, which could put your home, savings, future earnings or retirement funds at risk. Reviewing your total coverage with an insurance professional at Southern Risk Associates, serving Foley, AL, can help determine the optimal level of protection for you. One added umbrella policy can make all the difference when life takes an unexpected turn.
