If you carry more than one insurance policy, umbrella insurance simply makes sense.
Umbrella insurance covers excess liability across all qualifying insurance policies, meaning that if you are held responsible in an auto accident where the damages exceed your car insurance policy's limits, your umbrella policy will kick in and make up the difference. Essentially umbrella insurance is an insurance policy on your insurance policy.
You could simply buy additional liability protection on your individual policies. Still, when you add up the costs of expanding coverage on your home insurance, your car insurance, your commercial insurance, and so on, you're going to wind up paying more each month than you would with a single policy that covers all of those in a single plan.
Besides the premiums you'll save, an umbrella insurance policy simplifies your insurance needs. Instead of making a half dozen calls to a half dozen insurance agents, you just call us at Veldhouse Insurance Agency in Minnesota, and we'll work out the details for you.
While the average in our state sits at $30,000, personal injury awards can easily hit seven figures and beyond. A bus driver in 2011 saw a lawsuit claiming over three million dollars, while a dump truck driver was sued for around one million for merely blocking a motorcyclist's line of sight. The risk is real, and it's bigger than many of us realize. Whether you have a dozen policies to worry about or just a few, umbrella insurance is simply the most practical way to protect yourself against being bankrupted by a lawsuit.
If you're looking to get covered in Minnesota, get in touch with us at Veldhouse Insurance Agency. You can call, stop by our offices or get in contact with us online with any questions you might have.