When You Need Personal Umbrella Insurance in Denver
You‘re insured. That‘s good. But have you ever wondered whether the liability limits of your home, auto or boating policies would be enough to cover the costs of a claim? Or whether all the risks you face are actually covered in your standard policies?
Unfortunately, many people discover this reality too late every year. Yet here in Denver there is a simple, low-cost solution: umbrella insurance. .
Understanding Denver Personal Umbrella Insurance
Umbrella insurance is a unique type of excess liability insurance. It’s a policy that kicks in when the liability limits of your existing insurance protection are exceeded.
ed by your umbrella policy depends on how you decide to set it up In most cases, umbrella insurance protects you from excess liability costs for:
Injuries you cause in a car or boating accident Injuries someone suffers on your property
Property damage and personal injury you cause in an accident
For example, suppose your homeowners’ policy covers you for up to $500,000 of costs, but someone sues you for a covered liability and your costs, including a settlement, come out at $800,000. Without personal umbrella insurance, you’d have to find the difference — $300,000 – yourself.
This type of situation happens more often than you ight imagine.
Individuals can also find themselves facing liability lawsuits and costly legal challenges relating to their outside activities like volunteering or taking part in sports where they could injure someone.
Personal umbrella insurance can also offer liability protection against certain risks like lawsuits relating to slander and libel. Think of the costly risks many of us now face when we post comments on social media.
Backed-up sewer lines, which aren’t covered by a homeowner’s policy, may also be protected through an umbrella policy.
Trust Hall’s Denver Personal Umbrella Insurance Coverage
Trust Hall arranges competitively priced umbrella insurance for Denver residents.
Typically our Denver personal umbrella insurance policies will act like an extension of an existing homeowner, boat owner or auto insurance program and likely through the same insurer as the main policies.
In fact, most insurers will only issue personal umbrella coverage to existing policyholders.
As an independent agent, you can count on us to identify the best solution for your needs and to secure you highly competitive rates and discounts.
Do I Need Umbrella Insurance?
People used to think umbrella insurance was only for the rich. That’s no longer true. While rich people may have more assets to protect and be potentially more vulnerable to being sued, lawsuits and other legal expenses for anyone can easily exceed standard liability policy limits. That’s why one-in-eight households now have personal umbrella coverage – and, as claims, legal settlements and medical costs rise, so does the demand for this additional protection. Among those with assets above $5 million, around half have umbrella protection. Coincidentally, roughly the same proportion – one-in-eight – personal liability lawsuits result in costs exceeding $1 million. Unless you are wealthy, a single accident could wipe out your life savings. Yet, the costs of umbrella coverage are so low, relatively speaking – a couple hundred dollars a year for an extra $1 million of coverage — that it makes sense to buy personal umbrella coverage as a precaution
Why You Should Act Now
We all know that saying about never knowing what’s around the corner. That’s precisely why we have insurance – and, increasingly, why we have the additional protection of personal umbrella insurance.
Trust Hall’s Denver personal umbrella insurance experts are here to help you – with a free quote, advice on limits and answers to your questions. Don’t wait until whatever is around the corner shows up. Contact us now, without cost or obligation, for your quote.