Unless you are in the business, insurance terms and concepts can feel like a foreign language. However, in the case of an umbrella policy, the concept closely matches the name. An umbrella policy is a policy that provides expanded coverage, over and above standard insurance, to protect your family and assets. While the name and concept may be simple, there is often confusion as to why these policies are beneficial and who should have them.

Contrary to popular belief, umbrella policies are not just for the wealthy. That means two important things. First, umbrella policies can comfortably fit within most budgets. Second, even if you don’t own a fancy car or a sprawling mansion, you could still benefit from the extra protection

If you are found to be liable for injuring someone or damaging their property, anything beyond the limits of your primary liability insurance coverage will come out of your own pocket. With a personal umbrella, you are protected from these potential out of pocket costs.

At Andres O’Neil & Lowe Agency, we discuss the importance of umbrella policies with our clients. By asking pointed questions such as, “Do you frequently entertain? Do you have a pool? Is there a teenage driver in your household?” we pinpoint areas that may put you at a higher risk for a lawsuit or major claim.

A personal umbrella policy provides an extra layer of protection, giving you the peace of mind that you’re covered should you find yourself liable for another person’s damages. If you’re ready to explore how an umbrella policy could work for you, contact us for a free insurance assessment. Whether you have coverage through Andres O’Neil and Lowe or another agency, we can help.