Umbrella Insurance for Philadelphia and Bucks County, PA

If insurance is for a rainy day, umbrella insurance is for a storm.

Umbrella insurance protects you during those times when your regular home or auto policy's liability limits are exhausted, and you are faced with a lawsuit and millions of dollars in liability.

Millions of dollars? Is that realistic?

Unfortunately, it is.

It is a fact that in today's world, the newspapers are filled with more and more articles about accidents, lawsuits, and liability questions. We are human, and our mistakes sometimes have severe consequences, consequences that can reach millions of dollars in liability.

A million dollars can add up easily, particularly if the injured person suffers injuries that keep him or her from working for weeks, months, or years. The victim of an accident could sue you for medical bills, lost income, even pain and suffering, not to mention damage to their vehicle, and cost for an attorney.

A typical auto insurance policy has limits of $100,000 per person, $300,000 per accident, and $50,000 property damage. Depending on the extent of the damage and/or injury, you are responsible for paying the rest. If you are at fault in an accident, you can actually lose your home, stocks, retirement or college funds, or any other significant assets.

Umbrella insurance can protect you from Life's Oncoming Storms...

You can add $1 million (or more) of liability protection above your auto, home, and boat liability coverages. Because it is designed for those really rainy days, umbrella insurance is inexpensive. You can usually buy umbrella policies with $1 million limits for $130 to $250 a year. If you need more than $1 million limits, you can buy each extra $1 million of coverage for $100 to $150.

How much insurance is enough? The answer is different for everybody. It depends on what you want to protect, and how much risk you are willing to assume. Your goal with an umbrella policy is to put as much of an insurance "buffer" between a serious accident and your personal assets as possible.

An umbrella insurance policy may also be called an umbrella liability policy as it adds umbrella coverage to your existing liability policies. Gannon Agency serves Philadelphia, Bucks County, PA and Montgomery County, PA.