Central Oregon's Leading Insurance Advocate

Steve Thill Insurance

(541) 408-0971

Contact Steve Directly

(541) 408-0971

Contact Steve Directly

Bend LIfe Insurance

Umbrella Insurance

Most people assume that they have enough liability protection from their primary insurance policies, such as homeowner‘s or auto policies, but that’s not always the case.

Umbrella insurance protects people from large claims or lawsuits when they’re found liable following an event in their home, car or property. At AIC Insurance Agency, we can help protect you financially and keep your dreams moving forward with an umbrella insurance policy.

What is Umbrella Insurance?

Umbrella insurance is a secondary type of insurance that offers additional personal liability protection for you and your family in the event your primary coverage is exhausted. In particular, it covers lawsuits and costly claims in the following areas:

Why Do Individuals Need Umbrella Insurance?

Umbrella insurance gets you one step closer to knowing that your financial future is secure. Sometimes, depending on your situation, your standard home and auto liability insurance may not be enough to cover a large liability claim. For instance, let’s say you are hosting guests at your Oregon property and someone trips down the stairs, or your beloved dog runs out of the house and bites someone. If they sue you for injuries and you lose, your homeowner’s insurance will only pay up to a certain limit. Instead of clearing your savings or getting into debt, umbrella insurance will cover the difference so that you don’t have to pay out of pocket for any costs that exceed your current liability limits.

How Much Should the Average Person Pay for an Umbrella Insurance Policy?

The cost of obtaining $1 million of personal liability coverage under umbrella coverage is roughly $150 to $350 a year and about $100 per million of coverage above that. The incremental premium cost tends to gradually diminish. It’s more cost-effective if you buy your home and auto insurance from the same insurer as you get an additional discount on the umbrella policy.

Why Work with An Independent Insurance Broker/Agency for An Umbrella Policy?

An experienced independent insurance agent who represents multiple insurers can help you customize your insurance so you only pay for what you need at the best price.
Personal umbrella insurance is for everyone, not just the wealthy as anyone could be vulnerable to legal action and large judgments in this current climate that loves lawsuits. 

Let’s be part of your overall risk management plan and provide an additional layer of protection to keep you and your family’s financial future secure. Contact me today to find out what the best level of coverage is for your situation.

Steve Thill Insurance

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