How Much Umbrella Coverage Do You Need?

December 2, 2021

“How much umbrella coverage do I need?” is a very common question we get asked. The answer is not an easy one, as there is no exact calculation to spit out the perfect number. Follow the below link to find a tool provided by Hanover, one of our valued personal and commercial insurance carrier partners. This at least gets you thinking of how much you really have to lose in a catastrophic event. If you have any questions or would like to discuss further, please give us a call, and we will be happy to help!

Hanover Umbrella Calculator

A $10M solution for potential lawsuits

A lawsuit—even a frivolous one—can mean a threat to future income, hard-earned savings and a way of life. And, with more than 100,000 lawsuits being filed in the U.S. every single day*, it’s a bigger threat than many of your customers may realize.

Help them understand what’s at risk, and how umbrella insurance from The Hanover is positioned to help. You can start by asking five quick questions:

How much equity do you have in your home?
What’s your annual income?
What is the total value of your possessions?
What do you have in savings and investments?
How many years away are you from retirement?

Then, guide your customers toour umbrella coverage calculator page,where they can enter these figures and see for themselves just how much they have to protect, and how their current coverage stands up. And when it’s time to make a purchase, remember that The Hanover says “insure we do” with umbrella coverage to $10M, and uninsured/underinsured motorist coverage up to $2M (coverage varies by state).

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