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Umbrella Insurance

Although Florida does not require you to purchase umbrella insurance, at Old Town Insurance LLC, we tell our clients that it's a good idea to look into coverage if they have assets that they want to protect in case they ever face a lawsuit. Umbrella insurance was once thought to be only for the wealthy, but things have changed. Today's lawsuits in Florida are awarding higher and higher sums to plaintiffs injured in car accidents or on private property. This means you could face damages in the hundreds of thousands of dollars, if not millions, should you injure someone with your car or someone trip and fall on a crack in the sidewalk in front of your house, and you be deemed negligent.

An insurance policy will cover you in such situations because it will give you added liability coverage over what you already have in place, namely your automobile insurance and your homeowner's policy. In Florida, as elsewhere, you must already have a minimum of liability coverage in place in order to purchase umbrella insurance. The required amount here translates to a minimum of 250/500 liability in the case of automobile insurance and $300,000 liability coverage under your homeowner's or farm policy. Should you meet these limits, an umbrella insurance policy could give you anywhere from $1,000,000 to $20,000,000 once you have exhausted your existing liability limits.

Likewise, if you own investment property or recreational vehicles, your Florida umbrella policy will cover them once you reach the liability limits on the policies you carry for them. What you will pay for an umbrella policy will depend on the number of properties, vehicles, and drivers you want to cover. As in most things, the best way to get a good deal on Florida umbrella insurance is to comparison shop. Here at Old Town Insurance LLC, we're proud to say we have working relationships with many of the top insurance companies in the state. This means we can pave the shopping route for you. So, if you're thinking of purchasing an umbrella policy (as you should be), please come on in and discuss it with us. We love visitors!

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