Sheffer Insurance

Personal Umbrella Insurance in Southern Illinois

personal umbrella

You have wisely been saving money for several years. The children’s college funds and your personal assets are steadily growing. One day you or a member of your household is responsible for an auto accident causing severe damage to the other car's driver and two passengers. You are sued, deemed at fault, and liable for $500,000. Since your auto policy's coverage limit is $300,000, you are short $200,000. What do you do?

A Personal Umbrella Policy would step in and pay the difference. Without an umbrella policy, the remainder would come out of your pocket. If you do not have an extra $200,000, your assets (401k, savings, home, cars, future earnings, etc.) could be used to satisfy the judgement.

Umbrella policies essentially provide an extra layer of protection and cover some exposures not currently covered by your basic policy.

Therefore, our insurance experts strongly recommend obtaining a Personal Umbrella Policy. These policies protect you from catastrophic events by safeguarding your assets better than your underlying policy.

To learn more about our personal umbrella insurance in Southern Illinois contact us today at 618.942.2134 or click here.