11801 Domain Blvd., 3rd Floor
Austin, TX 78758
A lot of people assume that umbrella insurance is only for the wealthy, but that’s not the case. As long as you are earning a livelihood, you should have an umbrella policy. An umbrella policy can be for everyone. If you do lose a lawsuit, you are held personally liable and not just based on current assets. Your wages can be taken as part of a settlement, which means your future earnings can be in jeopardy. An umbrella policy guards you from the risk and also adds liability protection above what you currently have for both home and auto insurance. Not only will umbrella insurance give you another layer of protection, but it can also protect you from libel or slander and some other types of lawsuits not covered by auto or home insurance. Judgments against you after someone is injured on your property, following a car accident, or even at the end of a lawsuit for something you post on social media can quickly add up to a million dollars in claims. Accidents can happen at any time, and lawsuits are increasing in frequency. It’s important to protect yourself.
You can get umbrella insurance as a standalone policy or as a rider to some other insurance policies with your agent at Armadillo Insurance Agency in Austin, TX. Before you can get umbrella insurance, you do need to already have the minimum limits on your home and auto policies. Then additional coverage can be purchased in one million-dollar increments. You can be turned down based on a poor driving record, previous claims, or a home in poor condition. Everyone should have at least $1 million in umbrella coverage. If you have more than $1 million in assets, then you should carry more coverage. It’s recommended that you have an umbrella policy up to your net worth, and those with rental properties should have even more.
Contact Armadillo Insurance Agency in Austin, TX to get a quote on umbrella insurance.