Umbrella Insurance Colorado Springs | Extra Liability Protection

Personal Umbrella Insurance - Extra Protection When You Need It Most

An umbrella policy provides additional liability coverage beyond your auto and home insurance limits. Main Street Insurance - Patrick Murakami Agency helps Colorado Springs residents protect their assets with affordable umbrella insurance.

What is Umbrella Insurance?

Think of an umbrella policy as a financial safety net. It provides extra liability coverage when you're sued for damages exceeding your home or auto policy limits.

Coverage typically starts at $1 million and extends to $5 million or more.

Why You Need Umbrella Insurance

One serious accident can result in massive financial damages:

Auto Accident Scenario: You cause a multi-car accident on I-25. Three people are seriously injured.

  • Medical bills: $500,000

  • Lost wages: $300,000

  • Pain and suffering: $700,000

  • Total damages: $1.5 million

  • Your auto liability limit: $250,000

  • You're personally liable for: $1.25 million

Without umbrella coverage, your personal assets are at risk:

  • Savings and investment accounts

  • Home equity

  • Future wages

  • Retirement accounts (in some cases)

What Umbrella Insurance Covers:

✓ Bodily Injury Liability - Beyond your auto/home limits

✓ Property Damage Liability - Damage you cause to others' property

✓ Personal Injury Claims:

  • Libel and slander

  • False arrest

  • Defamation of character

  • Invasion of privacy

✓ Legal Defense Costs - Attorney fees, court costs, settlements

✓ Worldwide Coverage - Protection travels with you

Common Umbrella Insurance Claims:

  • Serious auto accidents with multiple injuries

  • Guest injured at your home (slip and fall, dog bite)

  • Teenage driver causing severe accident

  • Watercraft or ATV accidents

  • Injury caused by your pet

  • Accidental injury to child at your home

  • Libel or slander lawsuits (social media posts)

  • Accidental damage to neighbor's property

Who Needs Umbrella Insurance?

You should consider umbrella coverage if you:

  • Own a home

  • Have significant savings or investments

  • Have teenage drivers

  • Own rental properties

  • Have a swimming pool, trampoline, or playground equipment

  • Own boats, ATVs, or recreational vehicles

  • Have a dog (especially certain breeds)

  • Serve on boards or volunteer organizations

  • Coach youth sports

  • Frequently host gatherings

  • Have high earning potential

  • Are concerned about social media liability

How Much Umbrella Coverage Do You Need?

General guidelines:

  • $1 million: Minimum for most homeowners

  • $2-3 million: If you have substantial assets or higher risks

  • $5 million+: High net worth, significant assets, multiple properties

Calculate your need: Total net worth + future earning potential = Recommended coverage

How Much Does Umbrella Insurance Cost?

Umbrella insurance is surprisingly affordable:

  • $1 million coverage: $150-300/year

  • $2 million coverage: $250-400/year

  • $5 million coverage: $500-800/year

That's roughly $15-25 per month for $1 million in additional protection.

Requirements for Umbrella Insurance:

Most carriers require underlying policy limits of:

  • Auto liability: $250,000/$500,000 or $300,000 combined

  • Homeowners liability: $300,000-$500,000

We help ensure your underlying policies meet these requirements.

What's NOT Covered by Umbrella Insurance:

  • Intentional or criminal acts

  • Business activities (requires commercial umbrella)

  • Professional services (requires E&O insurance)

  • Damage to your own property

  • Contracts you enter into

  • Workers' compensation claims

Colorado-Specific Considerations:

Mountain Recreational Activities Colorado's outdoor lifestyle creates unique liability risks:

  • ATV and dirt bike accidents

  • Hunting incidents

  • Horseback riding injuries

  • Off-road vehicle accidents

Winter Activities

  • Sledding accidents on your property

  • Snow removal injuries

  • Ice-related slip and falls

Wildfire Liability If you own property in wildfire zones, ensure adequate coverage if fire spreads from your property.

Why Buy Umbrella Insurance from Main Street Insurance?

  • Compare rates from multiple carriers

  • Bundle with existing policies for discounts

  • Expert guidance on proper coverage amounts

  • Local Colorado Springs service

  • Claims assistance when you need it

Get Your Umbrella Insurance Quote

Protect your assets and financial future with affordable umbrella coverage. Call 719-309-6439 or visit us at 5214 N Nevada Ave #100.

Most quotes take just 5-10 minutes.