Umbrella Insurance in Greenfield, IN

As your personal and business assets grow, so does the need for additional protection. Umbrella insurance provides an extra layer of coverage beyond your standard auto, home, or business insurance policies. If you face a large lawsuit or a claim that exceeds your policy limits, umbrella insurance ensures that your assets are protected. At Cox Insurance Agency, we offer affordable umbrella insurance policies designed to give you peace of mind, knowing that you're covered for unexpected risks that could have a major financial impact on your life and business.

What is Umbrella Insurance?

Umbrella insurance is a type of liability coverage that goes beyond the limits of your existing insurance policies, such as auto, home, or business insurance. If a claim or lawsuit exceeds the coverage limits of your primary policies, umbrella insurance steps in to provide extra protection. It’s designed to cover large, unexpected costs, such as medical expenses, legal fees, or property damage, offering a higher level of financial security.



For example, if you’re involved in a car accident where the other driver is seriously injured, and your auto insurance policy doesn’t provide enough coverage, umbrella insurance will help cover the remaining costs.

Why Do You Need Umbrella Insurance?

While standard insurance policies offer important protection, they often come with coverage limits that may not be sufficient to cover larger claims. Umbrella insurance helps fill that gap. Here’s why you need it:

A black and white drawing of an umbrella with a check mark on it.

Extra Protection Against Large Claims

Umbrella insurance provides additional coverage if you are sued or held liable for damages that exceed the limits of your auto, home, or business insurance policies.

Protects Your Assets

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Without adequate umbrella coverage, you risk losing personal assets, such as savings, investments, or property, if a claim exceeds your coverage limits. Umbrella insurance helps safeguard these assets from large, unexpected expenses.

Peace of Mind

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Having an umbrella policy ensures that you’re protected from the financial fallout of major accidents or lawsuits, allowing you to focus on your personal or business affairs without the constant worry of large liability claims.

Affordable Coverage

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Umbrella insurance is typically very affordable compared to the amount of coverage it provides. It offers a high level of protection for a relatively low cost.

What Does Umbrella Insurance Cover?

Umbrella insurance provides extra liability protection for a range of scenarios. Common coverage areas include:

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Bodily Injury

If someone is injured in an accident for which you are responsible (such as a car accident), umbrella insurance can help cover medical expenses, rehabilitation costs, and legal fees if the damages exceed your auto or homeowners insurance policy limits.

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Property Damage

If your actions cause damage to someone else’s property (e.g., breaking someone’s fence or causing a fire), umbrella insurance helps cover the repair or replacement costs beyond your standard policy limits.

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Personal Injury

Covers situations where someone sues you for libel, slander, or defamation, protecting your assets from the costs of defending the case and any settlements or damages.

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Rental Property Liability

If you own rental property, umbrella insurance can provide additional coverage in case a tenant or visitor is injured on your property, or if your rental property is damaged by an event that exceeds your landlord policy coverage.

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Business Liability

For business owners, umbrella insurance can offer additional protection if a lawsuit or liability claim exceeds the limits of your commercial liability insurance policy

How Much Umbrella Insurance Do You Need?

The amount of umbrella insurance you need depends on several factors, including:


  • Your Assets: The more assets you have, such as savings, investments, or property, the more umbrella insurance you should consider to protect those assets in the event of a large claim or lawsuit.


  • Risk Factors: If you are involved in activities that carry a higher risk of liability (e.g., owning rental properties, having teenage drivers, or running a business), you may need more coverage.


  • Your Existing Coverage Limits: Assess the limits of your current auto, homeowners, or business insurance policies. Umbrella insurance should cover the gap between those limits and the amount of coverage you want to have.


At Cox Insurance Agency, we can help you determine the appropriate level of umbrella insurance based on your needs and risk profile.

How Much Does Umbrella Insurance Cost?

Umbrella insurance is relatively inexpensive for the amount of protection it offers. The cost typically depends on:


  • Amount of Coverage: The more coverage you choose, the higher the premium will be. However, umbrella insurance is generally affordable compared to the protection it provides.


  • Risk Factors: If you have higher risks (e.g., owning multiple rental properties or having a history of liability claims), your premiums may be higher.


  • Current Coverage: Umbrella insurance usually requires you to have existing auto or homeowners insurance with specific liability limits. The cost of umbrella insurance will depend on the level of coverage in your primary policies.


Our team at Cox Insurance Agency will help you find the right level of coverage at an affordable price.

How to Get Umbrella Insurance

  • How is umbrella insurance different from my regular auto or home insurance?

    Umbrella insurance provides extra liability coverage beyond the limits of your existing auto or home insurance policies. It covers large claims that exceed the limits of your primary insurance, offering additional protection for your assets.

  • Is umbrella insurance necessary if I already have high liability limits on my homeowners or auto insurance?

    If you have high liability limits on your homeowners or auto insurance, umbrella insurance can still offer added protection against very large claims. Umbrella insurance helps protect your assets in case of catastrophic events that exceed your primary coverage limits.

  • Can umbrella insurance cover my business?

    Yes, umbrella insurance can provide additional liability protection for your business, particularly if a claim exceeds your commercial general liability coverage. It’s particularly useful for business owners who face increased liability risks.

  • Is umbrella insurance expensive?

    No, umbrella insurance is typically very affordable. For a relatively low premium, you can add significant additional protection to your existing policies.

  • Can I add umbrella insurance to my existing policy?

    Yes, you can add umbrella insurance to your existing auto, home, or business insurance policies. It’s a simple process that can be done through your insurance provider.

Get the Right Umbrella Insurance Today

Protect your assets and gain peace of mind with comprehensive umbrella insurance from Cox Insurance Agency. Contact us today for a free, no-obligation quote, and let us help you find the best umbrella policy to ensure you're fully protected.