Looking for Personal Umbrella Insurance in Knoxville?
Over 50% of accidents now involve an attorney and some sort of litigation. Do you want an extra layer of protection over your auto and homeowners insurance policies to guard against person injury lawsuits?
Umbrella insurance is a stand-alone liability policy that provides an additional layer of $1-5 million of liability over and above your underlying auto and home liability limits.
4 Simple Questions to Ask Yourself
What is the amount of equity you have in your home?
What is the value of all of your personal possessions?
What is your lifetime earning potential?
What is the total value of all of your savings accounts and other funds?
Umbrella insurance coverage safeguards you in the event of a lawsuit. Settlement fees can add up to millions of dollars. Costs can include:
Pain and suffering
An Umbrella insurance policy pays when you are financially responsible for costs that exceed the limits of your other insurance policies.
You May Want Umbrella Insurance in these Situations:
Owning a pet
Having guests in your home
Owning a pool
Owning a trampoline
Owning a boat
Hosting dinner parties or other gatherings
Posting on social media sites
Having children and participating in carpools or other activities
Owning a home, rental properties, or multiple residences
Having a pet or occasionally watch a pet for someone else
Traveling overseas and renting a car
Real Life Example
A 35-year-old client making $50,000 annually has an auto accident and becomes permanently disabled and unable to work. Just replacing their income for the next 30 years would be $1.5 million. Please note this does NOT include hospital bills, rehab, or pain and suffering.
How much does Umbrella insurance cost?
One of the things that makes Umbrella insurance so appealing, and almost a no-brainer in most situations, is that the cost is generally very low.
Most insurance carriers offer coverage starting at around $250 per year. The cost of your Umbrella policy is based on the amount of cars and homes you own, but in general the cost is pennies on the dollar, and all the risk is on the insurance company.
Don’t let one accident cost you everything you own.
Please call our office directly at 865-213-2111 or click over to our Get Proposal page to send us some basic information about your needs, so we can get started on your policy review and comparison!