Personal Umbrella Insurance
McGhee Insurance works with clients to increase liability protection with a personal umbrella insurance policy.
Get the Extra Protection You Need With a Personal Excess Liability Policy
Purchasing an auto or homeowners insurance policy offers coverage for various unpredictable events, including accidents, fires, and natural disasters. These policies provide peace of mind knowing your valuable assets will be repaired or replaced by a reputable insurance company.
However, these plans have liability limits and may not fully cover the costs you owe from a significant accident. Personal umbrella insurance coverage protects your assets against claims that extend beyond the coverage of your home and auto policies. These policies provide additional liability protection against:
- Bodily injury: Personal umbrella insurance covers the medical bills, loss of income, and funeral costs of the other people involved in an accident.
- Personal injury: Purchasing a personal umbrella insurance policy provides additional coverage against lawsuits that involve libel, slander, false arrest, and defamation of character.
- Property damage: With personal excess liability insurance, you’re protected from damages resulting from the physical destruction of someone’s property.
As a leading personal insurance agency, McGhee Insurance has a team of experts ready to help you find the right personal umbrella insurance policy for your needs. We take pride in making sure you get a cost-effective plan that meets your needs and reduces your liability risk.
How Does Personal Umbrella Insurance Work?
Personal umbrella insurance can be difficult to understand; here is a scenario that explains its importance. You run a red light and collide with another vehicle, significantly damaging the other car and injuring its occupants. The automobile you hit needs $15,000 in damage, and the medical bills are $250,000. Also, one of the passengers won’t be able to work while recovering and sues you for $50,000 to cover lost wages. Suddenly you’re on the hook for $315,000, and if you only carry $200,000 in personal liability coverage, the remaining $115,000 must be paid out of pocket. A personal umbrella insurance policy adds an additional layer and covers the expenses that extend beyond your insurance policy limits. Your plan also helps cover any lawyer fees while settling the suit filed against you.
Protect Your Assets With a Personal Umbrella Insurance Policy
McGhee Insurance has an extensive network of partners that allows us to find the right policy for your needs. Contact us today to schedule your free consultation and start maximizing your coverage.
Get the Right Personal Excess Liability Policy With Our Team
Navigating the personal umbrella insurance market can be intimidating because many people don’t know the level of protection they need. As Arkansas’s leading independent insurance agency, McGhee Insurance has established relationships with leading providers. Our agents take pride in working closely with our clients to understand their needs and provide a comprehensive plan that suits their budgets. Partnering with McGhee provides our customers peace of mind knowing an experienced team is on their side and making sure what matters most to them is covered.
Need Help Finding the Right Personal Umbrella Insurance Policy for Your Needs?
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