UMBRELLA INSURANCE

Having the added protection of an umbrella policy is coverage no one should go without. Why? Although the liability insurance that you’ve purchased on your Auto Insurance or Homeowner Insurance policies protects you when being sued by others injured in your home, or as a result of a vehicle accident, the limits on those policies only go so far. Unfortunately, many people are not aware that the liability in a homeowners or auto policy is often not enough to cover the cost of medical bills, legal fees, and more if you’re being sued. Read our Blog article that may help you understand who needs Umbrella Insurance.

REAL-LIFE SCENARIOS: WHY UMBRELLA INSURANCE MATTERS

While large lawsuits may seem rare, they do happen. And when they do, the costs can be life-altering. Consider these common examples:

• Swimming Pool Accident: Imagine a neighborhood child sneaks into your yard while visiting with their parents, reaches for a pool toy, and accidentally falls into your swimming pool. The child suffers permanent injury or worse, and their family sues you for $5 million. Your homeowners insurance might cover $500,000—where will the other $4.5 million come from? An umbrella policy could prevent you from losing your home, savings, and future earnings.

• Kitchen Injury at a Dinner Party: You host a dinner for friends and neighbors. While preparing food, a pot of boiling water accidentally spills, severely burning one of your guests. The result is third-degree burns and permanent scarring. You’re sued for $900,000. If your homeowners policy only covers $300,000, the remainder could become your personal responsibility—unless you have umbrella coverage.

• Teen Party Incident: Your teenager hosts a small get-together while you’re away. One guest sneaks in alcohol, consumes too much, and suffers alcohol poisoning. Tragically, they’re left with long-term medical issues. Their parents file a $3 million lawsuit. Your umbrella insurance can provide the protection needed to cover legal and medical fees well beyond the limits of your standard policies.

These scenarios don’t happen every day—but when they do, they can ruin a person or family financially. At Mitchell-Joseph Insurance, we help you plan for the unexpected so that your finances, assets, and peace of mind are safeguarded.

WHO SHOULD CONSIDER UMBRELLA INSURANCE?

While everyone can benefit from umbrella insurance, it’s especially important for individuals who:

• Own a home or rental property

• Have a swimming pool, trampoline, or dog

• Host parties or entertain guests regularly

• Have teen drivers in the household

• Travel frequently or engage in high-risk hobbies

• Possess significant savings or assets

You’ve worked hard to build a life you love—umbrella insurance ensures it won’t all be wiped away by a single unfortunate event.

HOW MUCH DOES IT COST?

Many people are surprised to learn how affordable umbrella insurance can be. Policies that offer $1 million in extra liability protection often cost as little as $150–$300 per year. That’s a small price to pay for the peace of mind that comes with knowing you have a financial safety net.

To protect you and your family from a lawsuit in which you are found liable for significant amounts of money, you’ll need higher levels of liability insurance. The Umbrella Insurance Rochester NY professionals at Mitchell-Joseph Insurance in Honeoye Falls, NY, Naples, NY, and Rushville, NY, can provide all the information you need to help you select the right amount of coverage so that your assets are protected. CONTACT US to set up an appointment and receive a quote for a personal Umbrella Insurance policy.