You have so much worth protecting
- Own a car
- Have regular income, assets, or retirement savings to protect
- Have children, especially a teenage driver
- Use social media or allow your children to use social media
- Have pets
- Own a home
- Host parties or entertain guests in your home
- Carpool or host other people’s children at your house
- Serve on a board or perform volunteer service
- Travel abroad
- Own a watercraft, ATV, snowmobile, golf cart, motorhome, or other recreational vehicle
- Rent a boat, snowmobile, ATV or other recreational vehicle while on vacation
- Own rental properties
Life is unpredictable
Consider these common scenarios. You're driving a couple of children after a soccer game and have an accident that injures one of your guest passengers. Or your overly friendly dog frightens an elderly neighbor causing them to fall and break a hip. Or your teenager posts something offensive or potentially libelous online or in social media. Did you know you could be held liable for all these incidents, even if you didn't do anything wrong personally?
These types of situations are why you have liability coverage on your homeowners, auto, and other insurance policies.
How much coverage is enough?
Having $500,000 of liability coverage sounds like a lot of protection, but when you think about the high cost of emergency care, surgical bills, post-surgery care, rehab, pain and suffering, lost income, and more the costs can rise rapidly. Multiply that by several individuals and it's easy to exceed $500,000. You've likely seen in the news significant lawsuits in the millions of dollars being awarded by juries across the U.S. That's why having quality liability coverage is so important.
What happens if you're involved in an auto accident and we determine that it's a covered claim under your auto policy with us and the overall damages exceed the amount of coverage your policy provides? It depends upon your state, but your home, checking and savings accounts, investment accounts, and income can be seized or garnished to pay the difference.
Extra layer of protection
A personal umbrella policy would kick in- where damages for covered claims could exceed the underlying policy limits. It's also a critical part of your overall risk management plan because it provides an additional layer of protection when you need it.
Without an umbrella policy, your assets, savings, and even future income could be in danger because you could be required to pay all costs over your policy's liability limit. And umbrella covers much more than just auto accidents. That’s why it's essential in helping protect your family. It's also affordable. Quality coverage costs as little as a dollar a day. And the peace of mind is priceless.
This is where umbrella insurance kicks in. A Safeco umbrella policy provides an additional layer of protection when you don't have enough primary insurance coverage. Without an umbrella policy, your savings and future income could be in danger. But, in this scenario, your umbrella policy will pay the $220,000 in outstanding bills, plus associated legal costs as well.
A Safeco umbrella policy can be used with any other Safeco policies you have, along with most policies purchased from other insurance companies. This includes policies covering your boat, motorcycle, all-terrain vehicle, snowmobile, or other toys.
- Your dog bites a neighbor's child.
- You are threatened with a lawsuit for something you or your child posted online or in social media.
- A fire starts in your condo and spreads to and damages neighboring units.
- While driving, you or a family member strike and severely injure or kill a pedestrian.
So be on the lookout for excess policies claiming to be umbrella policies!
In general, the higher the underlying liability coverage, the less expensive the umbrella policy will be. For example, increasing your auto liability from $250,000/$500,000 to $500,000 combined single limits can significantly reduce your umbrella premium.
Many criminal offenses, like murder, extortion, or rape, would not be covered by the umbrella, so legal defense coverage would not apply. If you think you have a claim that may be covered by the umbrella, report the claim by calling 1-800-332-3226 and we will evaluate it for coverage.
Qualify for a lower rate in most states when you also have an Umbrella Insurance policy with Safeco.
Talk to your about ways in which you can lower how much you pay for insurance.