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7495 McLaughlin Rd, Ste. 221,
Falcon, CO 80831

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Shield Your Assets: Umbrella Insurance Insights

In today’s litigious society, having an extra layer of protection can make all the difference, and that’s where umbrella insurance comes into play. At Pikes Peak Insurance Agency, we provide valuable insights to residents of Falcon, CO, helping them understand how umbrella insurance can safeguard their assets beyond the usual limits of standard policies.

Umbrella insurance is designed to kick in when the coverage limits of your homeowner’s or auto insurance are reached. It covers the excess liability claims for damages and legal fees, which can mount up quickly, even if you are not found at fault. This makes it a critical piece of coverage for anyone who wishes to protect their hard-earned assets from unforeseen liabilities.

For those living in and around Falcon, CO, where family and outdoor activities often lead to unexpected risks, umbrella insurance provides extra peace of mind. Whether it’s a serious auto accident involving multiple vehicles or an injury on your property, the financial consequences can stretch well beyond the basic coverage limits of your existing policies. Pikes Peak Insurance Agency is dedicated to helping you understand these risks and the importance of additional protection.

As a community-focused agency, Pikes Peak Insurance Agency is committed to serving the needs of Falcon residents. We’re here to guide you through the complexities of umbrella insurance and help tailor a policy that ensures your lifestyle and assets are adequately protected against large claims and lawsuits.

We encourage you to contact us today to learn how umbrella insurance benefits you and your family. Let Pikes Peak Insurance Agency help you secure a safer, more protected future. Protecting yourself now means securing your peace of mind for the days to come.

What Are The Benefits of Having Umbrella Insurance

Umbrella insurance is not a mandatory type of insurance, and most people skip it. However, it is also like a safety net that offers protection beyond the limits of your standard insurance policies. Pikes Peak Insurance Agency in Falcon, CO  is here to assist. The following is a list of the benefits of umbrella insurance that make it a valuable and beneficial investment. 

Benefits of Umbrella Insurance

The benefits are the following:

  • Expanded liability coverage. Umbrella insurance offers an extra layer of liability coverage that goes beyond the limits of your auto, home, or other primary insurance policies. It can be especially beneficial if you face a major accident and the costs of it go beyond the standard coverage you carry.
  • Wide coverage. Umbrella insurance covers many different things. Libel, slander, property damage, personal injury claims, and false arrest  – all are typically covered by umbrella plans. With such extensive coverage, you will have the peace of mind you need. 
  • Protection for high-risk activities. Umbrella insurance can provide additional security if you partake in activities with high liability risks, such as organizing events, owning a swimming pool, or playing leisure sports.
  • Legal fees coverage and other costs. Umbrella insurance can also help pay for court costs, attorney fees, and other lawsuit-related expenditures.
  • Worldwide coverage. Umbrella insurance also provides global coverage, which is beneficial for those who travel overseas a lot or own a property in a different country. 

Schedule A Consultation Today!

If you live in Falcon, CO or any other surrounding area, and you are thinking of purchasing umbrella insurance, Pikes Peak Insurance Agency is here to help you. We specialize in different types of insurance, including umbrella insurance as well. Do not hesitate to reach out to us if you have any questions or need help finding the perfect insurance plan for you. 

Top 10 Reasons to Buy An Umbrella Insurance Policy

Considering buying an umbrella insurance policy in Falcon, CO? Experienced insurance agents at Pikes Peak Insurance Agency can help.

Below are the top ten reasons you need an umbrella insurance policy to protect your home and family. 

Top 10 Reasons to Buy an Umbrella Insurance Policy

#1. – Peace of Mind

To protect your home and family in the event of a lawsuit.

#2. – Extended Coverage

To provide additional liability coverage beyond your standard homeowners or auto insurance policy.

#3. – Protect Your Assets

To safeguard your assets and future earnings potential.

#4. – Protect Your Business

If you own a business, an umbrella policy can help protect your assets from business liabilities.

#5. – High Risk Protection 

An umbrella policy can protect you if you live in a high-risk neighborhood. 

#6. – Extended Liability 

If you entertain guests frequently at your home, an umbrella policy can help protect you from potential liability claims.

#7 – Young Drivers

If you have teenage drivers in your household, an umbrella policy can help offset the increased risk they pose.

#8. – Housing Expenses

An umbrella policy can cover temporary living expenses if a covered event damages or destroys your home.

#9. – Bundled Discounts

Get a discount on your umbrella policy premium if you purchase other insurance policies (e.g., auto, homeowners, boat) from them.

#10. – Lawsuit Protection

An umbrella policy protects you financially in case of a lawsuit. 

Give Us A Call

Contact the experts when you’re ready to buy an umbrella insurance policy in Falcon, CO and surrounding areas. 

Licensed insurance agents at Pikes Peak Insurance Agency can provide a free quote and the best options for protecting your home and family. 

Do You Need Personal or Commercial Umbrella Insurance?

Pikes Peak Insurance Agency offers umbrella insurance in both commercial and personal variations, but which do you need? The answer depends on your situation, and you might need both. Our team of insurance experts at  Pikes Peak Insurance Agency can help you evaluate your needs and match you with the right coverage. 

Umbrella Insurance: Personal or Commercial?

Personal Umbrella Insurance in a Nutshell

Your Falcon, CO home receives protection from your home insurance policy, but it mostly covers belongings and the home’s structure. A tiny bit of liability coverage in the home policy typically affords you about 10 to 20 percent of the home’s value in liability coverage. The cost of a settlement from liability incurred due to an accident at your home can cost you much more than that.

Umbrella insurance, a secondary policy type, provides the added coverage needed. When added to a home policy – the primary policy – the personal umbrella insurance offers up to one million dollars of coverage for liability.

The In-Between Option

If you operate a home-based business, you could add a rider for your business to your home insurance and umbrella insurance. This hedges the line between personal and commercial umbrella insurance. You have to meet specific business terms to qualify.

Commercial Umbrella Insurance Rounds It Out

Operating a business in Falcon, CO, requires essential commercial coverage. In a commercial policy, a primary liability policy provides the business with a flat amount of coverage. You choose the amount, but up to the policy limits. Businesses with high liability operations, such as ziplining operations or rock climbing facilities, need more coverage. The commercial umbrella policy provides this.

Give Us A Call

Contact Pikes Peak Insurance Agency for a consultation on your umbrella needs. Some individuals who serve as community leaders need both a personal and a business policy to protect them at home and at their company.

Why Choose an Umbrella Policy

If you’re like most people, you have insurance to protect your home in Falcon, CO. But what happens if you’re sued for something that doesn’t involve either of those? Is your current policy enough to protect you? Most times, the answer is no. That’s where umbrella insurance comes into the picture.

What is an Umbrella Policy?

An umbrella policy is an insurance policy that provides additional liability protection if you’re sued for more than your current coverage allows. It can help you protect your assets and your future earnings. The policy can also cover you for certain things that aren’t covered by your other policies, like defamation or slander. A Pikes Peak Insurance Agency can help determine if this coverage is right for you.

Why Do You Need an Umbrella Policy?

You might think that you don’t need an umbrella policy because you don’t have any assets to protect, or you don’t believe you’re at risk of being sued. But that’s not always the case. Here are a few situations where you might need an umbrella policy:

You have a lot of assets. If you have a lot of assets, you’re more likely to be sued for a larger amount of money. An umbrella policy can help protect your assets if you’re sued.

You have a pool, trampoline, or other recreational items. These are fun for the entire family and visitors. But they’re also more likely to cause injuries. If someone is injured on your property, you could be held liable. An umbrella policy can help protect you if you’re sued.

You have young children. If you have young children, they may be more likely to be involved in an accident. Extra coverage can help protect your assets.

Learn more about your policy options at Pikes Peak Insurance Agency in Falcon, CO. We’re here to help you find the right coverage for your needs. Give us a call today.

Some Facts about Umbrella Insurance

Umbrella insurance is a great insurance option to get coverage for all types of liabilities you may encounter. While you can get liability insurance included in many different types of insurance, such as car insurance and commercial insurance, umbrella insurance usually offers much larger coverage for many different situations.  

Pikes Peak Insurance Agency in Falcon, CO very proudly offers umbrella insurance. We also strive to find the best price for everyone, and we work with different providers to achieve this. We service customers in the states of Arizona and Colorado.

What situations require umbrella insurance

Umbrella insurance is usually required in situations where the word "liability" fits in. Some examples of these situations include:

  • Someone visits your home and goes through bodily harm because of an accident within your house or garden. You could be liable to cover any medical costs or, in worse cases, you could be sued. 
  • You might be liable if your pet hurts someone who visits your home, or in some cases, if your pet hurts another person outside. 
  • In some cases, you could be liable if you go into someone else’s home and break one of their valuable items. While most of the time the owner of these items will have insured these items themselves, or it comes included in their home insurance, never assume that the replacement costs are automatically covered. 
  • Underage members of your household cause harm to a visitor in your home. You are not only liable if you hurt someone in your household, but if your children are involved in an incident, this could make you liable too. 

Pikes Peak Insurance Agency in Falcon, CO can help advise you on umbrella insurance and walk you through the different quotes offered. Call our office today or request a quote online.

Who can benefit from umbrella insurance

Excess liability insurance is an extra layer of liability insurance that bolsters up liability coverage you already have on a policy you carry. For example, auto insurance may have 250,000 in liability coverage, but an excess liability policy can bring that up to 1 million or more. At Pikes Peak Insurance Agency in CO, we are a family-owned independent insurance agency serving the local community since 2005. We believe in finding the best coverage for our customers at a great price.

Umbrella insurance is excess liability coverage. It can benefit anyone who has any assets. When you have assets, they are always at risk in the event of a judgment against you. That is why you have liability insurance on your home, auto, business, and more. When someone is injured by you or by a member of your family, they may opt to sue you. Depending on the severity of the injury and the size of the judgment, this can be a costly situation. You will also have legal fees that need to be paid.

Most liability insurance that comes with your policy can be adequate if you have limited assets. But, many people have some accumulated wealth. It can be in a home you own, personal possessions you have acquired, or savings you are putting aside for your future. All of these could be at risk if you get sued. This is where the umbrella coverage steps in and adds a layer of protection to your assets. Umbrella coverage usually begins at about a million dollars but can be as high as five million. Basically speaking, if you have any assets, you can benefit from umbrella insurance.

Contact Pikes Peak Insurance Agency in CO for more information about umbrella insurance and how it can benefit you.