Umbrella Insurance

What is umbrella insurance and who needs it? Is it for only the very wealthy or for those with a lot of assets? No, neither of these misconceptions are accurate.

So, what exactly is an umbrella insurance policy? Umbrella insurance is a low-cost policy (about $250 a year for a $1,000,000 policy) that offers coverage in the event your regular homeowners, renters, business, or auto insurance policy limits are exceeded as well as to cover possible gaps in any of the above-listed policies.

When might an umbrella policy might be needed? Let’s say you are driving on a busy highway here in Houston or one of its many surrounding cities. A dog runs onto the highway and you slam on your brakes causing a 10-car pile-up. Most likely the damages from such a catastrophic incident would exceed the limits of your auto insurance policy. What if someone is killed or seriously injured while at your home and you are sued for an amount exceeding the liability limits on your homeowner’s insurance policy? Your Texas umbrella insurance policy would then become activated.

The cost of an umbrella policy is extremely low compared to the coverage it provides, and the protection you receive on your assets in the rare event that the umbrella policy would be needed is worth its weight in gold.

If you have questions about umbrella insurance, please call us at 832-956-1033 or send us an email at cs@actsphereins.com and one of expert insurance advisors can promptly answer your questions. At Actsphere Insurance Group, we are here for YOU. Stewardship is our policy.