A USAA umbrella policy covers claims beyond the financial limits of an existing auto or home insurance policy. An umbrella policy from USAA costs about $228 per year, and it can add $1 million to $5 million in additional liability coverage.
What USAA Umbrella Policies Cover
Injuries to other people if you're at fault
Damage to other people's property if you're at fault
USAA’s umbrella policies are a good choice for customers with a high net worth who want extra coverage for property damage, injuries, and possible lawsuits that could result from various types of accidents. Umbrella policies may also cover claims that might not be covered by standard liability policies, like slander, libel, and psychological harm.
You can get a quote for USAA umbrella insurance by going to their website or calling (800) 531-8722. To be eligible, you will also need an auto, home or a renters policy from USAA.
Yes, USAA insurance rates are competitive, since the company is one of the five cheapest insurers nationally, according to WalletHub’s cheap car insurance analysis. USAA car insurance costs an average of $633 annually, or $53 per month.
USAA’s car insurance rates are based on your driving record and experience, along with … read full answerfactors like the type of car you drive, your ZIP code, your insurance history, and more. Your coverage and deductible choices also impact your final quote, as do your eligibility for discounts.
Sample USAA Car Insurance Rates
Average Annual Cost of Minimum Coverage
These sample quotes are representative of USAA’s insurance prices, but individual results will vary. To learn more about how we obtained these sample quotes, check out the methodology section of our complete USAA car insurance review.
Umbrella insurance covers injuries, property damage, certain lawsuits, and personal liability situations that exceed your home and auto liability coverage. An umbrella policy extends your liability insurance limits and offers protection for situations not covered by a standard liability policy, such as libel or slander.
On the other hand, umbrella insurance does … read full answernot cover claims that are excluded outright from liability insurance, such as intentional damage or damage to your own property.
What Umbrella Insurance Covers
Liability in excess of auto/home insurance policy limits
Libel and slander
Psychological harm and mental anguish
Legal defense costs related to liability claims
Liabilities when traveling overseas
Umbrella insurance is typically recommended for individuals who have a high net-worth that can’t be covered by a standard liability policy. To learn more, check out WalletHub’s guide to umbrella insurance.
You need enough liability insurance to cover your net worth. Having coverage equal to the value of the assets you own and all the money you have, minus your debt, protects you financially in case of a serious car accident.
When to Carry Only the Minimum Liability Coverage
Although almost every state requires drivers to carry liability insurance, the minimum coverage is not always enough to cover the cost of an accident. It’s always best to carry as much liability coverage as you can afford, especially if you have a high net worth. You can generally get away with a lower property damage liability limit if you want to save, however, since property damage liability claims are usually less expensive than bodily injury liability claims.… read full answer
If you don’t have many assets or think the risk is worth it, you might be comfortable with carrying only the minimum coverage. But no matter what, make sure you’re carrying enough insurance to comply with state law and avoid paying fines for driving uninsured.
Liability Limits on Auto Insurance
Liability limits on auto insurance are the maximum amount that your insurance company will pay for injuries and property damage in accidents that you cause. Liability limits are typically written as three numbers divided by slashes.
For example, Arizona’s liability coverage requirements are 50/30/10. That means drivers need to carry $50,000 in bodily injury liability coverage per person, $30,000 in bodily injury liability coverage per accident, and $10,000 in property damage liability coverage overall.
Why You Need More Liability Insurance Than the State Minimum
Your insurance company will never pay for anything beyond the limits of your policy. Using the Arizona example, if you cause an accident that leads to $70,000 in medical bills for the other driver, you will have to pay for $40,000 if you are only carrying the minimum insurance required. And if you can’t afford to pay the full amount, the other driver can sue, and you can have your assets seized or wages garnished to cover the remainder.
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