Extra Protection
Umbrella Insurance for Added Peace of Mind
Our umbrella insurance adds a layer of protection beyond your standard policy limits, helping to safeguard your assets, family, and future from unexpected high-cost claims.
FAQs on Coverage
Umbrella Insurance: Frequently Asked Questions
Understanding umbrella insurance can feel complex. Here are answers to common questions about this valuable layer of protection.
What is umbrella insurance?
Umbrella insurance provides additional liability coverage that goes beyond the limits of your standard auto, home, or other policies. It’s designed to protect your assets if you face a large liability claim, such as a lawsuit or accident that exceeds your regular insurance coverage.
How does umbrella insurance work?
Umbrella insurance kicks in when the limits of your other insurance policies are exhausted. For instance, if a serious accident results in costs that exceed your auto policy, umbrella insurance covers the remaining amount up to your umbrella policy limit, helping to protect your assets and prevent financial strain.
Who needs umbrella insurance?
Umbrella insurance is a smart choice for anyone with significant assets or potential exposure to high-cost liability claims. This includes homeowners, landlords, and individuals with savings or investments they wish to protect. It’s particularly useful for those with higher risks, like owning multiple properties or engaging in high-liability activities.
What does umbrella insurance cover?
Umbrella insurance covers liability costs beyond standard policies, such as legal fees, damages, and settlements. It may also cover claims that aren’t included in other policies, like libel or slander. It’s designed to provide broad, flexible protection for your personal assets.
Does umbrella insurance cover my business?
No, personal umbrella insurance typically doesn’t cover business activities. However, if you have business liability needs, we offer business umbrella policies as well. Personal umbrella insurance is focused on extending coverage for personal liability exposures.
How much umbrella coverage do I need?
Coverage needs vary based on your assets, lifestyle, and personal risk factors. We typically recommend enough coverage to protect your total net worth. Our team will assess your needs and help you choose the right limit to ensure full protection.
Is umbrella insurance expensive?
Umbrella insurance is generally affordable, especially considering the level of protection it provides. For a modest annual premium, you can add substantial liability coverage. We’ll help you find a plan that fits your budget while offering critical protection.
Why choose Garry Insurancenter for umbrella insurance?
As a local, family-owned agency with over 50 years of experience, we’re committed to providing tailored coverage that keeps you fully protected. We understand the unique needs of Minnesota residents and offer friendly, knowledgeable support for all your liability protection needs.
