Stay Protected this summer with an Umbrella Policy

Summer is here and millions of Americans will be hitting the road to travel and make the most of the sunny days with occasional rains. You and your family will probably be among them. You may have the safest of vehicles and be an excellent driver, but there are factors beyond your control that could affect your safety on the road.

An accident could occur at any time for no fault of your own. Fender benders are no big deal, but if it is a major accident resulting in major vehicle damage, serious injury or in the worst case, the death of someone in the car, you depend on insurance to get you through the terrible time.

Nevertheless, what happens if the driver at fault does not have auto insurance or has inadequate coverage? How will the medical and other expenses be covered? This is where an umbrella insurance policy can save you.

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This could happen to you

Peter and Martha along with their children are driving to the neighboring town for a party. The car is in good condition and Peter is a safe driver. However, the kids in the back seat soon start fighting, and this distracts Peter. He pulls over to stop the quarrel and pacify them; still distracted a bit, pulls out into the traffic without checking for other vehicles.

You are out for a Sunday drive with your family, when Peter suddenly pulls out in front of you. There is no time to avoid the imminent accident; your car is badly damaged and all of you in the car suffer major injuries.

You all need hospitalization, surgeries and long rehabilitation. If Peter is underinsured and his policy is not enough to cover your expenses, what happens? You could sue him for the money, but that will be a long battle, and he could declare himself bankrupt, in which case you are back where you started. If you have an umbrella insurance policy, that will kick in, after Peter’s policy is exhausted, to cover your medical expenses. It's as simple as that.

Obviously, this is a worst-case scenario. You hear reports of things like this always happening to others, and thank God for that. However, there is no absolute certainty that it will not happen in your case. Maybe in other contexts, what you thought the remotest possibility would have taken you by surprise by becoming a reality. Umbrella insurance is a very inexpensive way to get the extra protection you need even in a worst-case scenario.

Why an umbrella policy?

Umbrella insurance is a simple and safe way to protect yourself from situations where other insurance coverage is not enough for your medical and other expenses. An umbrella policy can also cover pain and suffering as well as emotional distress and lost wages. It is the most cost-effective way to get the extra coverage you need to remain protected.

Consult a reputed insurance broker to know more about the advantages of an umbrella policy; they will tell you what kind of coverage is right for you.