Are you looking for umbrella insurance in Ohio?  Umbrella policies may cover your family or your business.

Contact the insurance experts at 513-662-7000 to find the best umbrella insurance coverage in Cincinnati Ohio. 

Typically insurance companies will not allow a stand alone umbrella so it’s best to package your car, home, and umbrella with the same company.

To obtain a package quote including the umbrella quote click here.

What Is an Ohio Umbrella Policy?

An umbrella policy is simply extra coverage that sits on top of your base coverage provided by your car, home/condo/renters, boat, motorcycle, or ATV insurance.

Umbrella policies are secondary limits of liability that come into play when the underlying limits of liability have been exhausted.

Coverage Scenario: Your newly licensed 16-year-old son, because of a lack of experience causes a car accident and injures two people.  The first person suffered only minor injuries but the second person named Bobby was seriously injured and suffers a permanent disability due to the car accident and can no longer work at his profession.

Bobby files a lawsuit against you as the parent, seeking $2 million due to his injuries and his loss of employment income.  A judgment is assessed against you for $2 million.

This Is How the Umbrella Policy Coverage Applies

Let’s assume that the base limits of liability on your car insurance are $500,000. (Many companies require a minimum of $250,000 per person, $500,000 per accident coverage for liability insurance.  In this instance we’re assuming that the company required $500,000 in combined single limit liability coverage.)

So in this instance the $500,000 of base liability coverage on your car insurance policy goes toward the $2 million judgment and at that point your umbrella policy kicks in. 

If you have a $2 million umbrella insurance policy in Cincinnati, $1.5 million is paid from the umbrella making a $2 million payout.

Do I Really Need Umbrella Insurance in Cincinnati?

If a serious accident or claim occurs and you do not have umbrella protection you may be in serious financial jeopardy due to the fact that all of your personal assets can be taken from you to satisfy court order judgments that are levied against you.

We recommend policyholder seriously consider purchasing umbrella insurance to protect your financial assets.

Many believe that filing personal bankruptcy can absolve you of any liability claims in excess of your automobile limits of him liability is that true?

We will discuss that in our next article.

Cincinnati Umbrella Insurance Is Very Reasonably Priced for the Benefits

Keep in mind it’s best to have your car, home, and umbrella insurance with the same company in most instances.   Contact our agency today to obtain umbrella insurance quotes, please call 513-662-7000. Or to start the process online click on this direct link:  https://www.pathwayinsurance.net/best-car-insurance-rates-in-cincinnati/