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Enhance Your Protection with Freedom Brokers Umbrella Policies

Comprehensive Liability Coverage for Peace of Mind in Marion, Illinois
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Umbrella Insurance: A Critical Addition to Your Insurance Plan

If you were found liable for someone else's injury or death, would your current insurance cover your assets adequately?

A stand-alone liability policy and umbrella insurance offer additional liability coverage above and beyond the limitations of your current homeowners and vehicle insurance plans.

Life is unpredictable, and despite our best plans, unforeseen events can occur. Umbrella insurance further protects your assets, going beyond the provisions of your main policies.

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Auto bodily injury liability
Bodily injury liability
Property damage liability
Medical Bills
Property damage liability

Auto bodily injury liability
Coverage

Risk Factors

While away at college, your 19-year-old son causes an accident that seriously injures a tech company’s top executives. Your auto insurance liability limits may not be high enough to cover their medical expenses and lost income while they recover.

Solution

Auto bodily injury liability helps cover a person’s treatment costs if they get hurt in a car accident. This coverage steps in when you reach your auto liability limit.

Bodily injury liability Coverage

Risk Factors

A guest at the pool party you’re hosting slips on your diving board and falls onto a stone-paved deck. She’ll be okay — but will need back surgery and ongoing rehab. The cost of this care will exceed the limits of your homeowners policy.

Solution

This can help cover another person’s medical bills. If someone gets hurt and sues you, this coverage protects you once your liability limit has been reached.

Property damage liability Coverage

Risk Factors

You forgot you left your bathtub running when you got distracted while checking for mail in your apartment building’s lobby. While you’re gone, the tub overflows deluging your downstairs neighbour’s home office. Renter’s insurance won’t cover the full costs of damage to her property and business.

Solution

This helps pay for damage to another person’s property or vehicle. This coverage will take effect when your liability limit has been exhausted.

Medical Bills Coverage

Risk Factors

Your friend trips and falls over a toy left in the middle of a hallway by your young son. She won’t be able to work for some time, and the liability limits of your homeowners insurance may not be high enough to cover her medical bills and other compensation.

Solution

An umbrella policy can cover her medical bills and other compensations. However, This coverage helps once your liability limit has been exhausted.

Property damage liability Coverage

Risk Factors

You forgot you left your bathtub running when you got distracted while checking for mail in your apartment building’s lobby. While you’re gone, the tub overflows deluging your downstairs neighbour’s home office. Renter’s insurance won’t cover the full costs of damage to her property and business.

Solution

This helps pay for damage to another person’s property or vehicle. This coverage will take effect when your liability limit has been exhausted.

Umbrella Insurance in Action

To understand how umbrella insurance works, consider this scenario:

Imagine you're held responsible for a multi-vehicle accident with damages totaling $850,000, but your auto policy covers only $300,000 in liability.

Without umbrella insurance, you must pay the remaining $550,000 out of pocket. However, an umbrella policy could extend your liability coverage beyond the $300,000 provided by your auto policy, covering the additional costs up to the limit you choose (typically from $1 million to $5 million).

In this case, the umbrella policy would cover the remaining $550,000, protecting your assets.

Other Scenarios Requiring Umbrella Insurance

  • Your dog bites a neighbor's child
  • A fire in your condo spreads to other units
  • An accident occurs at your rental property

The Value of Umbrella Insurance

One of umbrella insurance's attractive features is its price. You gain significant additional coverage for a relatively low cost, transferring the risk to the insurance company.

Umbrella insurance is a wise choice in our litigious society. It provides valuable coverage in situations where primary insurance falls short.

Don't Risk Financial Ruin

If your coverage is insufficient, a single accident could bankrupt you. With rising medical costs, it's prudent to consider umbrella insurance.

Visit our office at 905 W Deyoung St, Marion, IL 62959, United States to get your quote. Our team will compare the available markets to discover the greatest coverage for you.

Remember that most insurers require at least your auto insurance to qualify for an umbrella policy. Stand-alone umbrella policies are also available for special situations.

Already have Personal Umbrella Insurance? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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