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What is a personal umbrella policy?



I'm a safe driver. I do not do risky things. Someone I know would never sue me.

When it comes to really terrible events, many people have the mentality "it can not happen to me".

that a tragic accident could occur … and potentially a costly trial.

Many people mistakenly believe that only millionaires need umbrella policies. In reality, a tragic accident has the potential to financially derail people with modest means as well as multimillionaires.

At ERIE, our job is to look ahead and prepare you for life's unexpected twists and turns. This is how an umbrella policy can help you feel at ease knowing that your financial interests are protected.

How much liability insurance do I need?

Your home or car policy includes liability insurance up to a certain dollar amount. In insurance terms, it's called your limit. If you apply for a covered loss, your insurance can pay up to the dollar amount specified in that limit.

And if the bills are higher than the limit … the rest of the cash will usually come from your wallet.

] Here it is with accidents: No one plans for them. (That's why they're called accidents!) And if it's a particularly serious accident ̵

1; something that causes serious injury to someone else – the related costs can exceed an average person's limits for car or home insurance.

The Good News: A Umbrella policy offers higher levels of coverage to protect you from costly accidents, such as a tragic car accident or damage to your property.

WHAT CAN AN Umbrella POLICY COVER? cars are interrupted.

In today's legal society, anyone can be sued. If you accidentally injure someone or damage their property, a court may well hold you liable for the costs of medical bills, repair bills and / or legal fees.

Let's put it in context:

  • How much car liability coverage A lawsuit as a result of a tragic car accident can exceed the limits of your car liability, which means that you can not get costly damages. The limits for basic liability insurance are usually $ 100,000 or $ 300,000. While this is enough to cover many situations, accidents that are more serious or result in more people being injured can be more than you might expect.
  • Can my homeowner's insurance take effect if someone is injured on my property? Should someone be seriously injured – or worse – in your pool or ride your ATV (for example), a lawsuit could wipe out your finances. Medical costs alone can quickly skyrocket to the millions, especially if a person needs extensive medical treatment or long-term physical therapy.

Talk to a local insurance specialist, such as your local ERIE agent, about which coverage is right for you. An umbrella policy offers affordable, worldwide protection for you and covered family members.

Is an umbrella policy worth it?

Unfortunately, sometimes bad things happen – and no one is immune.

If a court decides you are guilty. more than the limits of your car, boat or homeowners policy, your personal assets may be at risk. This includes cash, such as your savings or future salaries. In some states, even your retirement savings and home may be relevant.

An ERIE umbrella policy offers higher levels of coverage and affordable, worldwide protection for you and your family members. This means you can relax and enjoy more of the good times that life has to offer.

How to Get Umbrella Insurance

Insurance really can not stop bad things from happening. But it can help ensure that an accident does not leave you, your family and possibly even a victim high and dry.

An umbrella policy from ERIE gives you peace of mind knowing that your financial interests are protected – even if something unexpected

Contact your local Erie Insurance agent to learn more and get a free quote.

The insurance products described in this article are not available in all states and are not currently available in New York ( expected to be available in 2022) and is subject to change at any time. Personal disaster liability continues to be offered until umbrella liability protection becomes available in New York. The policy contains specific details about the conditions, restrictions and exceptions that apply. Talk to your agent for more information.


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