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Umbrella Insurance: Giving You Peace of Mind

Imagine yourself at the gym, working out and lifting weights with your friends.  You are spotting weights as one of your friend lifts, and you look away momentarily. Suddenly, you drop the weights on your lifting buddy, and now they’re paralyzed from the chest down.  If you do not have umbrella insurance, you could be in serious financial trouble. 

What is umbrella insurance? 

Just like an umbrella is used to keep you safe and dry on a rainy day, umbrella insurance is just that. Umbrella insurance, also known as excess insurance, can keep you financially safe if sudden unexpected disaster strikes. With a personal umbrella policy, you are protected if you cause accidental injury to someone else or do any damage to someone’s property that goes beyond an auto insurance policy or homeowner’s insurance policy. Typically, a personal umbrella insurance policy starts with a $1 million dollar coverage. 

When will I need an umbrella insurance policy? 

 

Unexpected accidents can happen at any time. In this lawsuit-heavy world, we live in, having an umbrella insurance policy can keep your savings and assets safe if you become involved in an unexpected.

d lawsuit. If you partake in any high-risk activities, having an umbrella insurance policy could potentially keep you safe from having to pay millions of dollars in court. 

How much does getting a personal umbrella insurance policy cost? 

When thinking about all the extra protection and coverage you will gain, umbrella insurance is rather inexpensive.  Depending on your personal risk factors, such as auto tickets and your credit rating, a $1 million dollar protection plan typically costs about $1 dollar every day, coming out approximately $300 annually. For a higher protection plan, costs usually go up $50-$75 for each addition million dollars of protection.  

How can I get an umbrella insurance policy today? 

Accidents can happen unexpectedly to anyone at any given time. To be sure you are covered in this ‘sue-crazy’ world we live in today, obtaining an umbrella insurance policy is easy to do with TrueNorth Companies. Stop into any of our offices located throughout the United States and talk with one of our personal insurance agents today. Feel free to email Kenan Kantarevic with any questions about the policy, rates, or coverage of an umbrella insurance policy. 


Now think back to you at the gym with your friend. After a lengthy trial, you are found negligent and are sued for $700,000 to cover the cost of surgery and damages brought up from your friend. Taking the time to get an umbrella insurance policy from TrueNorth could save you from struggling financially for the rest of your life.  

No one is immune to accidents. Call TrueNorth today at 319-364-5193 to speak with our personal lines division to make sure you are protected! 

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