You've worked hard to build your dreams. From providing a safe haven for your family to your favorite car, you've built a world of comfort and security. Umbrella insurance can provide you with peace of mind at a surprisingly affordable rate.
Umbrella insurance is an added layer of liability protection above and beyond your underlying auto, home, and boat policies if you're found responsible for someone else's bodily injury or property damage. For instance, if you injure someone with your car and are found liable for damages that exceed your auto policy liability limits, your umbrella policy kicks in and pays for those excess costs up to the limits of the umbrella policy. With jury awards increasing, umbrella insurance becomes vital to a sound financial plan, particularly if you own a business, expensive home, or other high-value assets.
To qualify for umbrella insurance, you must have both your auto and home insurance with PEMCO. Your auto liability levels must be at least $250,000/$500,000 for bodily injury and $100,000 for property damage. You also must carry homeowner liability limits of $300,000. You can buy umbrella insurance at limits of $1 million, $2 million, or $3 million. Depending on where you live and your assets, the cost of a $1 million policy could start as low as $166 a year.