Shannon Springer standing in the rain under a brightly lit umbrella in Charlottesville Virginia

Umbrella Insurance

Waht is Umbrella Insurance?

An umbrella policy provides additional layers of liability protection. If the liability limits are exhausted on your home, auto, or other underlying insurance policy, your umbrella insurance policy takes over and provides you with additional protection. The cost is minimal compared to the comfort of knowing you're covered.

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Categories: Personal

Also Known As : Excess Liability Insurance, Personal Umbrella Policy

Springer University Videos for Umbrella Insurance

Umbrella Liability

A personal umbrella policy extends the bodily injury and personal damage liability limits of your home or auto policies.

Consider the following scenario: Your home insurance provides $300,000 of liability coverage. A serious accident happens on your property, and you're sued for $1.3 million resulting in a judgment against you.Your insurance pays up to $300,000 for a covered accident, but you hold responsibility for paying the remaining $1 million.

If you had $1 million of coverage under an umbrella insurance policy, you'd be covered with nothing out of your pocket (other than your monthly premium). Instead, without the additional protection from a personal umbrella policy, you're looking at the possibility of needing to liquidate your assets to pay the remaining $1 million in this example.

Talk to an agent to find out what the best level of coverage is for your situation.

Why 23139?

23139 is an important local market for The Springer Agency because it includes Powhatan-area rural property owners with insurance needs that are not always handled well by a basic online quote. Risks in this area can involve acreage, barns, detached structures, tractors, fire protection distance, and farm exposures. The Springer Agency helps clients review homeowners, auto, umbrella, business, farm, boat, or specialty coverage depending on how the property, vehicles, and household are actually used. The Springer Agency can help Powhatan-area rural property owners compare multiple insurance carriers, review replacement cost, liability limits, deductibles, water backup, roof settlement terms, and other coverage details before a claim happens. Because every neighborhood and property type is different, The Springer Agency’s independent approach gives clients in 23139 a practical way to match coverage to real local risks.

Imagine what would happen if your dog was to bite a neighbor's child, or if there was an accident on your rental property. What would happen if a fire in your condo spread to other units? If any of these things happened to you, there's a good chance your current liability limits wouldn't be adequate to protect your assets, or your future earnings.