Umbrella Coverage


Umbrella Coverage Quote Forms

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Umbrella Coverage Information

What if you were at fault in an auto accident that caused the death of some other family's husband and father?  What if it turned out that he was the breadwinner of the family, earning $50,000/yr with 30 years left to work and a home and college educations to pay for as well as the accumulation of a retirement nest egg for he and his wife?  If your auto policy pays a maximum of $100,000 per person for bodily injury/death, do you think that family is likely to file a lawsuit against you for more?  In all likelihood it would be a whole lot more!  How would you come up with the money?

What if your chimney fell on your neighbor, injuring him and ruining his expensive sports car, and you wind up facing a $500,000 judgment? If your homeowner's policy pays a maximum $300,000 for liability, you would be in a tight spot. Where will the rest come from — future wages?  Selling your home?  Forfeiting an inheritance?  All of the above?

One way to help protect your assets from settlements that exceed the coverage limits of your homeowner's and auto policies is to purchase personal umbrella liability insurance.

An umbrella policy gets its name because it provides an extra layer of protection in the event you exceed the maximum limits of your other liability insurance. Umbrella policies are usually sold in increments of $1 million, and they typically require deductibles equal to the coverage limits on your homeowner's and auto policies.

Not Just for the Rich

Juries typically don't take into account a defendant's ability to pay when deciding the amount of an award, so exposure to risk can affect people at all income levels. Just having a swimming pool or a teenager could expose you to additional risk. If you don't have enough liability coverage to resolve a claim or a lawsuit, the plaintiff could go after your house or other assets, depending on the laws of the state where you live.

Not Just for Home or Auto

Many umbrella policies include coverage for things excluded on standard auto, renter's, and homeowner's policies such as libel, slander, invasion of privacy, defamation of character, or other personal injuries. Some umbrella policies also provide coverage if you face personal liability arising from your service as a board member of a civic, charitable, or religious organization.

When you review your insurance coverage, consider the added protection an umbrella liability policy can offer. A policy can be designed to fit your particular situation and potentially grow with you and your family.
 

Why Compass?
Unlike most property & casualty insurance agencies, we're also a full-service financial planning agency so we understand how difficult it is to accumulate and preserve wealth.  From that perspective, we are in a better position to advise you on protecting your assets as well.  Our clients are not just a number in a phone queue.  You can call, email or text us, or even come in and sit across the desk from us and have a face-to-face conversation.  We are dedicated people who have many years of experience helping people just like you.  Unlike the constant turnover that occurs in huge call centers, we'll be around when you need us.  What's more, we're not a one-size-fits-all solution.  We represent you, the client, to dozens of umbrella insurers, not the other way around.  In doing so, we will always be able to find you the right coverage at a competitive price - both now and in the future.

Give us a call at (419)207-1111!

We're your #1 source for umbrella coverage in Apple Creek, Ashland, Bellville, Burbank, Butler, Congress, Crestline, Creston, Dalton, Doylestown, Fitchville, Glenmont, Greenwich, Hayesville, Homerville, Jeromesville, Lakeville, Lexington, Lodi, Loudonville, Lucas, Mansfield, Marshallville, Millersburg, Nankin, New London, Nova, Olivesburg, Orrville, Perrysville, Plymouth, Polk, Rittman, Savannah, Shelby, Shreve, Smithville, Spencer, Sullivan, Wellington, West Salem, Wooster and all of Ohio.

 

Looking for other lines of insurance as well?
Package your umbrella insurance with an automotor club, homeowner, condominium, rentersflood, motorcycle, motorhome, boat, farmbusiness or life insurance policy.

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