Umbrella Insurance Tampa and all of Florida

As a homeowner you have home insurance to protect your most valuable asset, your home, at the time of loss, and liability insurance to protect you and your family from lawsuits that may be brought against you.

However, if you own a car, a boat, an RV, a motorcycle or a rental property, in addition to your home you are at risk.

As financial risk advisors, we want you to know that an inexpensive Umbrella Policy is the solution.

But, before we go any further, let’s take a look at what might happen in a hypothetical scenario involving a middle-income earning teacher driving to work striking and severely injuring a pedestrian who is a single mother of two. The pedestrian sues the teacher for $800,000 for hospital, lost wages, child care and suffering.

What happens without a personal umbrella? The teacher’s auto carrier will probably agree to release $250,000 policy limit and then the pedestrian’s attorney will pursue the rest from the teacher. The hospital wants their money. He may need an attorney paid out of his own pocket. Will he declare bankruptcy? Sell his home? Get a second job?

What happens with a personal umbrella? With a $1 million personal umbrella policy (with an average premium of $300), the umbrella’s insurance company adjusters will work with the primary auto carrier and the pedestrian’s counsel to settle the pedestrian’s costs and demands.
The lesson learned from the above example is that you don’t have to be a millionaire to be sued like one!

Call Omega Insurance Agency today at 813-341-1530 or at 888-663-5088