How To Increase Your Insurance Coverage Without Spending More Money!

Umbrella Liability Insurance

That may sound crazy until you understand how insurance works along with our simple strategy. To increase your coverage with little or no extra money we use an Umbrella Liability policy to add a blanket of liability protection over your Auto Insurance & Home Insurance policies.

Keep in mind that you are driving around with your financial assets in your car! If you would happen to accidentally hit a car full of kids, you could be financially devastated for the rest of your life!

What If?

Imagine you are a few years from retirement. Your home is paid off and you have a nice size retirement plan. You are driving down the road and swerve from hitting a deer. You hit a car full of kids.

Fortunately you are not badly hurt and the damage to your car is well within your Auto policy limits. Unfortunately, the car full of kids sustains many more serious injuries.

A court rules that you were at fault. You must pay for damages to the other car, medical bills and lost wages to the driver. Although you owe about a Million dollars in damages, your Auto policy only covers $300,000. You are now on the hook for the extra $700,000!

Personal Umbrella Policies are liability insurance policies with very high limits of protection, typically starting at $1,000,000. They are designed to add a layer of protection above other kinds of personal liability coverage such as the liability protection of a personal auto, homeowner or boat insurance policy.

These kinds of policies are meant to protect you should you be deemed legally responsible for injury to persons or property.

The Umbrella policy may also cover some gaps in coverage that your Auto & Home policies might not cover such as legal fees, libel, slander, defamation of character, false arrest etc on a personal liability situation.

Why Would You Need A Personal Umbrella Policy?

There has been a trend underway in the United States toward more lawsuits and court and jury awards can be large.

Liability insurance is meant to protect your assets and income, both current and future, from such awards.

Assets include several things such as your Home, Investments, retirement accounts as well as your checking, savings and even your future income!

Those with little on no assets as well as those with significant assets or income or the expectation of either in the future, should give serious thought to adding an Umbrella Liability policy to their insurance portfolio supplementing their auto, homeowner and other liability protection.

If you Are Sued For A Lot Of Money

All of your Assets are exposed if you don’t have enough money, liability insurance or an Umbrella Liability policy to cover those costs.

The risks faced by you and your family change over time and sometimes quite dramatically.

You may not realize it, but your exposure to liability loss is much greater with the more people you regularly have in your vehicle. If you are driving a car full of kids around to a sporting event, your liability has increased dramatically!

Another situation could occur If you regularly car pool co-workers then you have also increased your liability exposure. Having a trampoline or swimming pool in your yard could also increase your liability exposure!

Some of life’s other events that can change your need for extra liability protection include:

– Young driver’s behind the wheel of your cars

– Having house parties where you serve alcohol

– Appreciation of your assets including your Home

– Increase in your income

– You could be sued

– Do you own a dog?

– Are you ever a parent chaperone?

– A contractor of handy man gets insured while working on your property

– Your kid gets in a fight at school and injures someone

There are so many situations in life that no one can predict that can immediately change your life financially. If nothing else, the Umbrella Liability policy offers peace of mind.

Why Be Penny Wise & Pound Foolish If You Don’t Have To?

You are probably thinking that this sounds like an important policy to have but must cost a lot of money! You will be very surprised how affordable it is once you learn this simple strategy.

How many million dollar claims can you afford to have? Probably none. How many $500 to $1000 dollar claims can you afford to have? Probably several.

Having several small claims can not bankrupt you or dramatically change your life like one $1,000,000 claim!

Think how one unpredictable accident can financially devastate you and your family for the rest of your life! How would this affect your lifestyle, your family members, your whole quality of life? No worries, there is a very good solution to this problem!

Transferring Your Risk Strategy

Since you can afford to have many $500 to $1000 dollar claims, doesn’t it make sense to transfer the bigger million dollar risk to someone else if possible?

With this strategy you are simply increasing your common $250 deducible’s on your Auto Insurance and Home Insurance policies to $500 or $1000.

You have now taken on the additional risk of $500 to $1000 or more depending on your deductible. However, by increasing your deductible’s, you have now reduced your premium on your Auto Insurance and Home Insurance policies!

What are you going to do with this savings? You guessed it! Your going to buy an Umbrella Liability policy. This has now transferred the $1,000,000 risk to the insurance company and in return you have increased your risk by just $500 to $1000. ( aren’t you smart?) This in my opinion is a no brainer!

You Need To Build A Moat Around Your Castle!


Whether you are in the early phases of your life cycle, in the middle or nearing retirement, you have a major need to protect your assets.

During the early years you are just starting to accumulate assets. If you had a $1,000,000 claim, you could be paying for this claim out of your garnished wages for the rest of your life.

if you are in the middle cycle with your kids preparing for college, a major claim could turn their dream upside down.

Nearing or in retirement and a major claim could dramatically alter your lifestyle for the rest of your life.

According to Bankrate, Umbrella Insurance is “the absolute best buy in the insurance business,” at around $150 or $200 per year for the first $1 million in coverage and another $100 for each additional million.

Knowledge Is Power!

If you take action! Now that you know the strategy of how to increase your liability exposure tremendously with little or no money, it does not mean a thing until you take ACTION!

A Holistic Approach To Insurance

We at McEvoy Insurance & Financial Services want to make sure you have the correct limits of liability, at the right costs given your particular situation. We know everyone has a unique situation and no one size fits all!

As an Independent Insurance Agency located in Alexandria, VA we will shop many of the top insurance companies to make sure we are providing you with the best value possible!

Visit us for your FREE no obligation Insurance Consultation at
or call us at 703-642-6408.

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