Affordable Umbrella Coverage for Austin Families
The biggest misconception about umbrella insurance is that is expensive. On the contrary, umbrella insurance is an incredibly affordable risk management tool available to homeowners. In fact, a $1 million umbrella policy can cost as low as a couple hundred dollars each year. And adding additional protection generally will not cause your policy premiums to skyrocket.
Here at Central Insurance, our independent insurance professionals will help you understand that umbrella insurance provides your family an extra layer of financial protection and general peace of mind. We will also help educate you further on umbrella policies and continue to clear up misconceptions that may be holding you back from adding this protective layer to your personal insurance portfolio.
How an Umbrella Policy Works
An umbrella policy is exactly what it sounds like. It shields you from legal claims that could otherwise drown your family in debt. It is a liability policy that acts as an extra layer of protection in the event of a serious injury that occurs on your property or during a car accident that you caused. It begins to respond when you have exhausted your liability coverage from either your homeowners insurance or your auto insurance policy.
Here’s an Example
You accidently cause a car accident while driving to work one morning. You escape with minor bruising and a bit of whiplash. The other driver, however, did not escape so easily. Neither did his two carpool passengers. There were broken bones and required surgeries. Two of those individuals needed ongoing physical therapy. By the time all is said and done, the driver had $300,000 in damages, and the passengers each suffered $250,000 in damages.
Your auto policy has a liability limit of $250,000. The driver alone exhausted that limit. Without an umbrella policy, your family is now on the hook to cover the remaining $550,000 for the other passengers’ bills and the remainder of the driver’s bills. With an umbrella policy, you need not worry. With even a basic $1 million dollar umbrella policy in place, your family has peace of mind knowing those bills are covered.
Contact Central Insurance for a Free Umbrella Policy Quote
To learn how an umbrella policy can extend the value of your homeowners or auto insurance, thereby adding further financial protection for your family, email Central Insurance Agency or call our agents at 512-451-6551. We provide free quotes and no-pressure sales advice.