When does umbrella insurance kick in?

Umbrella insurance from ANA Insurance Brokerage Inc. is a type of supplemental liability insurance policy that provides added protection for individuals in the event of an unforeseen legal claim. It works in tandem with other existing policies, such as car insurance or homeowners’ insurance, and takes effect when those limits have been exceeded.

For example, if you were found liable for damages from an automobile accident in the Southgate, CA area that exceeded your existing auto coverage, umbrella insurance would kick in to provide additional coverage up to the umbrella policy limit.

Why Umbrella Insurance?

Umbrella insurance can be an invaluable asset for those who may potentially face large financial losses due to unforeseen events. For example, if someone were to sue you after being injured by a dog on your property or after being involved in an automobile accident caused by your negligence, umbrella insurance could help protect you against financial destruction.

Umbrella policies are usually very affordable and offer higher limits than standard liability policies, making them a great option for those who are concerned about their potential exposure to large legal costs or damages awards. 

Overall, while umbrella insurance may seem like a luxury item at first glance, it can actually be very beneficial in helping individuals and small businesses protect themselves from potential financial losses due to unforeseen circumstances beyond their control.

By providing extra liability coverage and covering certain types of damages not covered under traditional policies, having appropriate umbrella coverage can be a powerful form of protection against unexpected legal fees or awards stemming from accidents or other mishaps.

Give Us A Call

If you have any questions about your coverage, please give us at ANA Insurance Brokerage Inc. a call today. We proudly serve the Southgate, CA area.

Who Needs Umbrella Insurance?

We at ANA Insurance Brokerage Inc. know that umbrella insurance can help protect you from incurring financially cataclysmic losses from liability. We are here to provide expert advice if you ever find yourself in the following situations. 

Who Needs Umbrella Insurance?

In Southgate, CA and the surrounding area, many people volunteer in their community. Every week, concerned citizens help clean up parks, coach kids’ sports teams, volunteer at soup kitchens, etc. Those individuals need umbrella insurance to protect their finances. Umbrella insurance provides a secondary policy that you add to a primary liability policy. Whether you accidentally libel someone in a newspaper or online, or you cause an accident that injures people, your liability insurance covers it.

Most policies don’t offer large coverage amounts. They weren’t originally designed for that and adding an umbrella policy provides the excess coverage that certain individuals need but most people don’t. Typically, a million-dollar policy costs just a few dollars per month in premiums.

As you age, it becomes more important to carry this coverage. That’s because, without it, an accident you cause could wipe out your savings.

Let’s say you plan to retire at age 70. You have a nice nest egg built up of about $400,000. At age 60, you throw a party to celebrate your child’s graduation from medical school. At this party, a fire in the BBQ pit injures three guests. The medical bills cost upwards of $250,000 and your home policy covers just $50,000 of it. The other $200,000 comes out of your retirement. Now, you have ten years to make up that $200K before retiring.

An umbrella policy solves the problem. It could provide $1 million of coverage for a minuscule cost.

Call Us Today

Contact ANA Insurance Brokerage Inc. serving Southgate CA, for more information on umbrella insurance. Let us help you add to your protection from liability.