If you own a home in Lincoln, NE, your homeowner’s insurance policy covers many perils. Most policies protect you against liability if someone becomes injured on your property. Although you can specify how much liability coverage you want on your policy, that amount may not be enough if an extreme event occurs. Brokers Insurance Agency can help guide you on how an umbrella policy can help protect your home.

What is Umbrella Insurance for Homeowners?

Umbrella insurance, sometimes called excess liability, goes beyond the protection your homeowner’s policy provides. It provides an extra layer of protection if you get sued when someone sustains an injury or their possessions become damaged in your home or property. Umbrella insurance kicks in after the liability limits of your homeowner’s policy have been exhausted. If you didn’t have this protection, you would be responsible for paying damages above the policy limits. Let’s say someone successfully sues you for several million dollars. If you have a $500,000 liability limit, you would have to pay the rest. That situation could bankrupt you and force you to give up your home.

Situations Where You Have a Greater Risk

Some situations have a greater potential for damage or injuries. If you have a pool, especially one with a diving board, visitors could sustain serious injuries or even death. The same goes for other sports equipment like trampolines. If you own large dogs or livestock and these animals injure someone, you could also face a hefty lawsuit. Even if you don’t have any of these situations, getting umbrella insurance is wise if you are well-known in your community, as some people may be more apt to sue.

When considering an umbrella insurance policy, you don’t have to guess. Contact the experts at Brokers Insurance Agency, serving Lincoln, NE, to get started on your coverage.