Umbrella Insurance Policies: Can They Help You in the Event of a Car Accident in the Tampa, Florida Area?

It is frightening to think about the burden of liability each of us carries every time we drive our cars in the Tampa, Florida area. For instance, it is not uncommon for one car accident to cause serious personal injuries resulting in six- or seven-figure losses. Few of us have this kind of cash in the bank account, and even if we do, we don't want to lose it because of one mistake on the road. Is there a way to protect ourselves from this liability?

Umbrella insurance policies are one viable option for drivers and homeowners in the Tampa Bay area. After your car insurance or homeowner's insurance is exhausted, umbrella insurance covers your additional liability. Therefore, if you are at fault in a car accident causing significant injuries to others and your car insurance runs out, your umbrella policy would cover additional damages up to the limits of your policy. Similarly, if someone is injured on your property and your homeowner's liability policy does not cover the injured person's losses, your umbrella policy pays the difference, up to policy limits.

Before an insurance company will offer you an umbrella policy, the insurance provider will usually require that you carry your homeowners and auto insurance with that company. Once you have your homeowners and auto insurance in place with one insurance company, that company will typically offer a million-dollar umbrella policy at a surprisingly affordable rate—sometimes as low as a couple hundred dollars per year.

Umbrella insurance is often recommended by auto accident attorneys in Tampa, Florida because these attorneys understand how easy it is to face a lawsuit after a car accident. Instead of leaving your assets at risk, consider purchasing an umbrella policy from your homeowners and/or car insurance provider.