You have homeowners insurance to protect your home and auto insurance to cover your car. And while these policies provide coverage in the event of loss or accident, some limits can be extended with an umbrella policy. If you own a boat, umbrella insurance will also cover losses that exceed the limits of your craft’s liability insurance. If you have rental property, it will provide additional liability coverage. Umbrella insurance even covers liability claims, like libel and slander. In general, if the value of your assets is more than your insurance liability limits, umbrella insurance is a good investment.
Suppose you’re in a serious auto accident or there’s a serious accident on your property. In that case, umbrella insurance can protect your wages, home, investments, cars, and boats. This can spare you from hundreds of thousands — even millions — in legal fees, personal liability, and property damage claims. Texell Financial can save the day with umbrella insurance. Call our Insurance Heroes today at 254.774.5181 to find out exactly how affordable this critical coverage can be.
Why Choose Texell Financial for Umbrella Insurance?
- Trusted: Our local insurance agents will help determine your insurance needs.
- Independent: We are not limited to one insurance brand. We’ll find the best insurance carrier and insurance policy to meet your unique needs.
- The best rates: Because we can shop around, we find you the very best rate, every time.
- Personal attention: Before your policy renews, we check to see if you still have the best deal.
Here are 4 Scenarios a Personal Umbrella Insurance Policy Can Save the Day:
An accident that occurs at your home. If a guest is severely injured while in your home or on your property, your umbrella policy will kick in.
Your dog bites a stranger. While your dog may be well socialized, umbrella coverage provides peace of mind in the unlikely instance he injures a stranger.
You are at fault in an auto accident. You’re driving on a rainy day, and your car hydroplanes, causing a collision. The other car is a luxury vehicle with $50k in damage. Your policy limit is $30k. Your umbrella policy will cover the shortfall.
Your spouse or child is sued. Imagine this: In a cloud of anger after getting a bad grade, your child posts false information about a teacher online. The teacher sues you and wins. Your umbrella policy has you covered!
Hopefully, you’ll never experience any of these crises… but what if you did? The good news is that umbrella insurance is amazingly affordable, generally $150 to $300 annually for a $1 million dollar policy.
Texell Financial is an affiliate of Texell Credit Union. Our agents are ready to protect your investment property and your income.
Frequently Asked Questions:
What is umbrella insurance?
Umbrella insurance is personal liability insurance that covers a loss that exceeds the limits of your homeowners or auto insurance. It can protect your current assets and future earnings if you or someone in your household is involved in a serious accident or lawsuit. It can also be used to help with losses that exceed your watercraft or rental property insurance.
What does it cover?
Below are some examples of what umbrella insurance covers. If you have additional questions, please contact a Texell Financial agent. They are happy to help.
- Additional liability coverage can help protect your home, car, boat, and other assets.
- Claims like libel and slander.
- Attorney fees and other legal costs associated with a lawsuit.
Is umbrella insurance different than homeowners or auto insurance?
Yes. Umbrella insurance provides coverage above your homeowners, auto, boat, or RV insurance. It’s additional personal liability coverage that will cover you if a serious loss happens beyond the limits of your other policies.
Will it cover my family members?
Yes. Umbrella insurance covers you and other members of your family or household.
Is umbrella insurance expensive?
Not at all! Umbrella insurance is inexpensive compared to other types of insurance policies, especially when you consider how much coverage it provides. While umbrella insurance costs depend on how much coverage you purchase, it generally costs between $150 to $300 annually for a $1 million dollar policy.
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