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Umbrella Insurance

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Get Excess Liability Coverage With a Personal Umbrella Policy

It seems that no one is safe from lawsuits these days. Anyone can be sued for any reason, and if you or a family member injures someone else, or an injury occurs on your property, a lawsuit could be brought against you to pay for damages to the injured party.

If you want to protect your assets in such a case, you need the excess liability coverage provided by personal umbrella insurance. Personal umbrella policies supplement the liability coverage provided by your other insurance policies.

Do You Need Additional Personal Liability Coverage?

If you own a home, your homeowners insurance provides liability coverage to protect your family should someone be injured on your property, or should you or a family member injure someone away from home. Your homeowners policy, however, is subject to policy limits that would probably not provide sufficient coverage if you were sued.

Texas Homestead Laws

The unique Texas homestead laws prohibit creditors from seizing a primary residence from a debtor. These laws apply to homes that fit within a specific acreage, regardless of their value.

For most homeowners, the homestead laws provide significant protection in the event of a lawsuit; your home cannot be taken from you to pay a debt regardless of a any judgments levied against you. However, the homestead exemption may not apply to homeowners with lots over a certain size. Contact our office for help determining if the homestead laws apply to you, and how that will impact your need for personal umbrella insurance.

Contact Watkins Insurance Group for Personal Umbrella Quotes

Contact us today for a needs assessment and quotes for personal umbrella insurance. With offices in Austin, Marble Falls, Waco, Mineola, Tyler, and Longview, we can conveniently serve homeowners throughout Texas.

The same is true for your auto insurance. The liability limits under most auto insurance policies would not provide sufficient coverage in the event of a lawsuit.

Personal umbrella insurance is not just for the wealthy. We recommend that all of our clients carefully evaluate their risks and understand what they have to lose if they were sued. Personal umbrella policies are particularly important if you have a young driver in the home, or if you own more than one home or a rental property.

How Does an Umbrella Policy Work?

Most umbrella policies can be purchased in increments of $1 million, and include protection above and beyond your basic homeowners or auto insurance liability limits.

  • If you reach the liability limit of your homeowners or auto insurance policy, your umbrella policy will kick in, offering excess liability protection.

  • If you face liability issues not covered by either your homeowners or auto insurance, your umbrella policy will potentially provide coverage where you otherwise would have had none.

We will work closely with you to evaluate your risks and the assets that you need to protect so that you can choose the appropriate personal umbrella policy limits. We can also find policies for high-value homeowners who require liability protection beyond $5 million.