umbrella insurance coverage options
Affordable coverage you can’t afford to be without.
Umbrella coverage is available in $1 million increments up to $10 million depending on where you live. Please speak with a .
Liability come in many forms. If you're held legally responsible, or even partially responsible, for an accident this may include having to pay damages beyond what your home and auto policies cover. And even if you can’t afford to pay, you're still on the hook and can have your wages garnished. Don't put your financial security at risk by being underinsured — especially since umbrella coverage is so affordable. Talk with your Safeco agent about how umbrella insurance can help protect your home, cars, property, assets, investments, and even future income.
Umbrella Coverage Options
Umbrella coverage is an inexpensive hedge against a wide variety of liabilities including possible gaps in coverage. Umbrella policies can provide additional coverage for:
- Bodily injury and property damage in an accident that exceeds your auto liability limits.
- Bodily injury resulting from an accident on your property that exceeds your homeowners liability limits.
- Lawsuits and legal costs even if the suit is frivolous.
- Lawsuits relating to invasion of privacy, libel, slander, defamation of character, and other damages.
- Unforeseen situations such as an auto accident in another country.
- Claims arising from use of your boat, ATV, motorcycle, snowmobile, or other insured specialty vehicle, or rental of such vehicles while on vacation.
- Negligent supervision of a child or personal defense coverage.
- And more!
An Extra Layer of Liability Protection
To purchase Safeco umbrella insurance, your personally owned vehicles must be insured with Safeco with limits of $250,000/$500,000/$100,000 or higher. Your personal liability coverage, provided by your homeowners or renters policy, must be $300,000 or higher. Other assets, such as rental properties, watercraft, ATVs, or motorcycles also have underlying insurance requirements. Contact your local Safeco independent agent for help in selecting the right amount of coverage.
Protection Wherever You Go
An umbrella policy may also provide primary coverage for situations in which none of your other policies would provide coverage. For example, imagine you rent a boat or ATV while on vacation and have an accident with it. Unless you currently own a boat, you likely have no liability protection in this situation. With a Safeco umbrella policy, however, you could have the full $1 million of protection.
Many homeowners policies no longer provide coverage for personal injury, which includes things like slander and libel. In today’s social media environment, it’s possible to be involved in a lawsuit for leaving a bad review of a business or even sharing gossip online. Your Safeco umbrella may be able to provide coverage here, too.
A Safeco umbrella policy also covers you, your spouse, and all family members living in your household wherever you go, anywhere in the world. So while your auto policy may not cover you while driving outside of the U.S., your Safeco umbrella policy will. This gives you greater peace of mind and more freedom to travel.
Payment of Attorney Fees
Whether you win or lose a lawsuit, legal defense fees incurred in defense of an umbrella claim are paid outside your limit of liability. That means you retain your full limit of coverage to settle any claims. A good attorney starts at $250 an hour, but you can get umbrella insurance for as little as a dollar per day. That makes this protection alone well worth the cost of umbrella coverage.
Additional Coverage Options
Excess Uninsured Motorist Coverage in Select States
It is estimated that one in eight drivers carry no auto insurance at all. And many drivers that are insured only carry your state's minimum required insurance, which can be as little as $10,000 per person and $20,000 total per accident.
If you or a family member are seriously injured in an accident caused by an uninsured or underinsured driver, the medical bills can really add up! While your health insurance may pay for some of your medical bills, it won't cover lost wages, pain and suffering, loss of income and earning potential, and more. This is why having uninsured motorist (UM) and/or underinsured motorist (UIM) coverage on your auto policy is so important.
What if you don’t have enough coverage on your auto policy? In many states, Safeco offers excess uninsured motorist coverage, which gives an extra $1 million of protection in case you, or a family member, are seriously injured in an auto accident. Please note this coverage is not available in all U.S. states, so talk with your Safeco agent about UM/UIM coverage options in your area.
Other coverage options
Safeco also provides protection for certain in-home businesses, some personal trusts, incidental farming, and family LLCs. Coverage options vary by state, so check with your Safeco agent for details.