Erie Umbrella Insurance Explained in Detail

Erie umbrella insurance provides an additional layer of protection against lawsuits and financial losses that exceed the limits of your standard auto or home insurance policy.

In the United States, the average cost of a lawsuit can range from $200,000 to $1 million or more, which is why umbrella insurance is a crucial investment for many families.

The minimum liability coverage required in most states is $25,000, but umbrella insurance can provide coverage up to $1 million or more.

Erie's umbrella insurance policy can be added to your existing auto or home insurance policy, and it's usually relatively affordable.

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Umbrella insurance is a type of policy that provides extra protection beyond what your standard auto, homeowners, or watercraft policies cover. It's designed to shield you from financial ruin in case you're held responsible for an unfortunate event.

Umbrella insurance is specifically about liability, which means it helps pay for costs you might incur if you're found at fault in an accident. This can include things like property damage or personal injuries.

Most people get umbrella insurance to supplement their existing policies, which often have low liability limits. For example, if your auto policy covers liability up to $500,000 but you cause an accident that leaves the other driver with medical bills of $600,000, the umbrella insurance policy will kick in for the remaining $100,000.

An umbrella insurance policy can be cheaper than you might think, considering it covers large potential payouts. The premium usually reflects the reduced risk that the policy will need to pay out.

Here are some examples of what Erie umbrella policies cover:

Umbrella policies may also cover claims that might not be covered by standard liability policies, like slander, libel, and psychological harm.

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Erie umbrella insurance provides an extra layer of protection for your family's financial security.

Accidents can happen to anyone, and the consequences can be devastating. With Erie umbrella insurance, you can have peace of mind knowing you're protected against unexpected events.

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Erie's umbrella policies offer an additional $1 million in coverage for claims that exceed your auto and home liability limits.

If you're involved in a car accident that results in injuries or property damage, an umbrella policy can help cover the remaining costs.

You can get a quote for Erie umbrella insurance by contacting a local agent, and it's a good idea to do so if you have a high net worth or want extra protection.

Here are some scenarios where an umbrella policy can kick in:

Umbrella insurance can be a cost-effective way to add an extra layer of protection to your existing insurance policies.

For most people, an extra $1 million in coverage costs less than $20 a month, making it a small price to pay for peace of mind.

You can get an umbrella insurance policy as a separate coverage or as an endorsement to your homeowners policy.

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Erie umbrella insurance has a few key policies and agents that you should know about.

Erie umbrella insurance policies can be tailored to fit your specific needs. They offer a range of coverage options, including personal and business umbrella policies.

Erie's agents are highly trained and knowledgeable about their policies. They can help you navigate the process of choosing the right coverage for your situation.

Erie's agents are also available to answer any questions you may have and provide guidance on how to file a claim if needed.

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Erie's umbrella policies cover certain lawsuits, like slander, defamation, or invasion of privacy, as well as defense costs, injuries to other people if you're at fault, and damage to other people's property if you're at fault.

To be eligible for an Erie umbrella policy, you'll need a home or auto policy from Erie.

Most umbrella policies are sold in increments of $1 Million dollars and start as low as $155 a year.

Erie's umbrella policies are a good choice for customers with a high net worth who want extra coverage for property damage, injuries, and possible lawsuits that could result from various types of accidents.

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Here are some key things to know about Erie's umbrella policies:

If you're interested in learning more, you can get a quote for Erie umbrella insurance by contacting a local Erie agent.

Having a local agent can make a huge difference in finding the right umbrella insurance policy for you. They can provide you with superior claims service and help you navigate any issues that may arise.

At Erie Insurance, their local agents offer a safeguard for your finances by providing umbrella policies that cover claims brought against you by a third party. This can give you peace of mind knowing you're protected.

A local agent can also help you understand how umbrella insurance works. For example, if your homeowners insurance has a liability limit of $500,000 and you're sued for $1 million, an umbrella policy can cover the difference.

Here are some benefits of working with a local agent:

In the 1997 Maryland Court of Appeals case, Bailer v. Erie Insurance Exchange, the court ruled in favor of the insured au pair.

The case involved an au pair who sued her host family for secretly videotaping her taking a shower. The policy excluded intentional acts, but the court found that the exclusion conflicted with the grant of insurance for "personal injury" claims.

The court ultimately ruled that the insurance company should not be able to give the insured coverage with one hand and take it away with the other. This means that the insurance company cannot use an exclusion to completely nullify the coverage afforded under the policy.

The policy at issue provided coverage against false arrest, wrongful detention or imprisonment, malicious prosecution, wrongful entry or eviction, invasion of privacy, and so forth. The court's decision highlights the importance of carefully reviewing insurance policies to understand the limits of coverage.

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