When it comes to protecting yourself and your family, your insurance should go beyond the basics. One of the most valuable coverages you can add to your personal umbrella policy is Excess Uninsured/Underinsured Motorist (UM/UIM) liability insurance.
This coverage offers an extra layer of protection if you’re involved in an accident caused by a driver who either doesn’t have insurance (uninsured) or doesn’t carry enough coverage to pay for your injuries or damages (underinsured). Let’s break down what this coverage is, why it’s important, and how it can save you from financial hardship.
What Is Excess UM/UIM Liability Insurance?
If you’re injured in a car accident caused by an uninsured or underinsured driver, your auto policy’s UM/UIM coverage will kick in first. However, if your damages exceed the limits of that coverage, you could be left paying the difference out of pocket.
This is where Excess UM/UIM coverage steps in. Added to your personal umbrella policy, this coverage provides additional compensation beyond your auto policy’s limits, ensuring you’re fully protected.
The Benefits of Excess UM/UIM Coverage
- Extra Financial Protection
Medical bills, lost wages, and other expenses from a serious accident can add up quickly, often surpassing the limits of your primary auto policy. Excess UM/UIM coverage helps fill that gap, so you’re not left struggling financially. - Prepared for the Worst
Severe accidents—especially those involving multiple passengers or long-term medical needs—can result in staggering costs. Excess UM/UIM coverage ensures you’re protected from these high-severity losses. - Peace of Mind
With so many drivers either uninsured or carrying state minimum liability coverage, the risk of an inadequate payout is high. Having this coverage gives you peace of mind knowing you’re prepared for the unexpected. - Cost-Effective Security
Adding Excess UM/UIM to your umbrella policy is an affordable way to secure significant additional coverage compared to the financial risks of going without it.
Why You Need This Coverage
- Uninsured Drivers Are More Common Than You Think
Despite legal requirements, many drivers are still uninsured. Without the right coverage, their negligence could leave you footing the bill. - State Minimums Are Inadequate
Even when drivers have insurance, the minimum limits required by law are often too low to cover the full costs of a major accident. - Your Umbrella Policy Needs It
While personal umbrella policies provide extended liability protection, they don’t automatically include Excess UM/UIM coverage. Adding this rider ensures your umbrella policy fully protects you from these gaps.
How to Add Excess UM/UIM Coverage
At Risman Insurance Agencies, we make it easy to tailor your personal umbrella policy to include Excess UM/UIM coverage. Not only will you gain an added layer of protection, but you’ll also enjoy the confidence that comes with knowing you’re covered for life’s uncertainties.
Don’t wait until it’s too late. Contact us today to review your personal umbrella policy. Let’s make sure you and your family are fully protected.
Your safety is our priority at Risman Insurance Agencies. Offering valuable coverages like Excess UM/UIM liability is just one of the many ways we work to give you peace of mind. Call us today to learn more!
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