As we all know here in Idaho the weather can change in the blink of an eye. One moment it can be pleasant and sunny. The next minute a storm can blow in from out of nowhere and bring wind and rain and spoil a beautiful day.
Keeping an umbrella close by can really help minimize our level of discomfort, helping us remain high and dry until the storm passes.
Umbrella Insurance works in precisely the same way. One moment we’re feeling safe and secure knowing our home and auto insurance policies are all paid up. Then out of nowhere a serious accident occurs and the financial demands exceed the liability limits or your standard auto or homeowners insurance policy. You and your life savings could get soaked.
For instance, you might have a standard $100,000 liability limit on your home insurance. If a serious accident happened on your property and you were sued for $1 million, you’d be responsible for the remaining $900,000. That would put your assets – such as wages, savings, home and personal property – at risk. The same gap can happen if someone in your family is at fault in a car accident, and damages and medical expenses exceed your auto liability limits. Umbrella liability insurance covers those gaps.
By extending Farm Bureau umbrella insurance over your existing policies you can help protect you and your family from catastrophic loss. Most umbrella policies are made out in increments of one million dollars and the good news is that the premiums are surprisingly affordable.