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The Extra Protection that Goes a Long Way

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Personal Umbrella Insurance for You & Your Family

In today’s highly litigious landscape protecting your assets from a lawsuit in the event of a catastrophic injury or accident for which you are found responsible takes more than the Liability coverage available in primary policies like Homeowners and Auto insurance. At ISU-The Olson Duncan Agency, we recommend that our clients also add a Personal Umbrella policy to their insurance program. It provides you with the extra protection you need at a very affordable price.

Opening A Personal Umbrella

A Personal Umbrella policy is designed as a fail-safe for your savings and other assets. If you’re liable for damages that exceed the liability limits of your Auto insuranceHomeowners insurance, Watercraft insurance or some other Liability policies, an Umbrella policy helps pay what you owe. In some cases it provides coverage that’s not included in the base insurance policies.

For example, let’s say you have $300,000 of Liability coverage on your Auto policy. You’re in an accident that causes serious injuries to the other driver and are found to be at fault, and a lawsuit is settled for $1 million. Your Auto policy would pay $300,000 of this settlement, with you having to pay the rest out of pocket. A $1 million Umbrella policy would extend your total Liability coverage to $1.3 million, and kick in after your Auto limits were exhausted.

The amount of coverage you should carry in an Umbrella policy depends on your net worth, which includes your income, savings and assets. Coverage is written in million-dollar increments and provides good value for the cost. We can tailor a policy that works for you based on your individual exposures and financial circumstances. For those with significant assets, we can provide you with a high-limit Umbrella policy.

Our Value

At ISU-The Olson Duncan Agency, we look to provide clients with a total solution, not simply a quote or an insurance contract. Our goal is to provide real value and build a long-term relationship based on trust. This is underscored by the fact that we provide our clients with their risk management and insurance solutions, including property & casualty, employee benefits and personal insurance. To find out more about how we can help you, call us at (310) 373-6441.