California Umbrella Insurance

California Umbrella Insurance has much to offer in the way of liability protection. We are living in a lawsuit-happy society, and lawsuits are commonplace. Have you considered all the risks you currently face? Unfortunately, a big-ticket lawsuit from a bad at-fault accident can quickly exhaust the liability limits of your standard insurance policy.

A personal umbrella insurance is designed to pay out when your existing homeowners, auto or boat liability insurance policies are exhausted. In short, personal umbrella insurance gives you greater peace of mind knowing you are protected against life's unexpected surprises. It safeguards yourself, your assets, and your future.

California Umbrella Insurance

Who Needs an Umbrella Liability Policy?

Many times, policyholders feel that their homeowners or auto insurance is enough to fully cover their assets. However, the possibilities are endless. For example, in the event that you become the target of a large lawsuit, expenses would have to come out of your pocket. Thus, if you engage in a high-risk activity or hobby that increases your odds of getting sued, having an umbrella insurance policy is really necessary. Also, no matter how very careful you are, you could be subject to a lawsuit. The more assets you own, the greater the need for you to protect yourself. It makes sense to consider options such as umbrella insurance to make sure you are fully protected.

How Much California Umbrella Insurance Coverage Do I Need?

Wondering how much personal umbrella insurance to purchase? To best answer this question, consider the total value of all assets to be protected. In addition, you should know how must risk are you taking. For example, if you are involved in an accident, causing multiple injuries, the settlement could be millions. Keep in mind that your damages in a liability suit are not limited to your net worth! If you receive a judgment higher than your net worth, you will likely lose everything.

Umbrella insurance policies are usually sold with a minimum of $1 million in coverage and can go as high as $10 million. Don't wait for a single accident to wipe out your life savings. Having an insurance company with an obligation to defend you in court is the primary benefit of umbrella insurance.

California Umbrella Insurance

How Much Does Umbrella Insurance Coverage Cost?

Excess liability coverage is not that expensive compared to the added coverage you gain. According to the Insurance Information Institute, a $1 million policy runs between $150 and $300 per year.

Here's an estimate of what an umbrella insurance policy would cost you each year:

  • $1 million policy — $150-$300
  • $2 million policy — $225-$375
  • $3 million policy — $275-$425
  • $4 million policy — $325-$475
  • $5 million policy — $375-$525

When looking for a cheap umbrella insurance policy, it's a good idea to understand the factors that affect your umbrella insurance premium. The more homes or cars you own, driving records, your credit rating, your net worth, the more it will cost. With California Umbrella Insurance's high coverage limit, the extra cost may be well worth the peace of mind, knowing your assets are insulated from lawsuits.

Contact Us

If you have questions about your umbrella insurance coverage or need help find an affordable umbrella insurance policy that will help cover your risks, call us at (844) 234-5600.