One lawsuit could wipe out your savings. Learn how an umbrella policy in Colorado gives you extra liability protection—and peace of mind.
One Accident Could Cost You Everything—Unless You Have This Coverage
You’re driving through Loveland or Cheyenne. You look away for a second, and suddenly—you’ve rear-ended another car. The other driver has serious injuries. A lawsuit follows.
Now you’re facing $700,000 in damages. Your auto policy covers $300,000. The rest? That’s on you.
This isn’t a rare worst-case scenario—it’s a common financial disaster. And most people in Colorado and Wyoming don’t know their insurance won’t cover it all.
Real Risk: Personal Lawsuits Are Rising—And Basic Insurance Isn’t Enough
Let’s say you’re found liable in a car accident, or someone gets seriously hurt on your property.
- In Colorado, even minor injury settlements average $30,000 to $150,000
- Major lawsuits can exceed $1 million, especially with long-term medical treatment, lost wages, or pain and suffering
- Legal fees alone can easily push your total liability higher than your policy limits
Once your home or auto insurance taps out, you’re personally responsible for the rest. That could mean:
- Draining your savings or retirement
- Getting your wages garnished
- Facing a lien on your home
What Is an Umbrella Policy?
An umbrella policy is extra liability coverage that kicks in when your primary policy limits are exhausted. It works on top of your:
- Auto insurance
- Homeowners insurance
- Boat, rental, or vacation home policies
In other words, when the claim goes beyond what your regular policy can handle, your umbrella policy catches the rest.
Coverage usually starts at $1 million, and can go much higher—depending on your needs and assets.
Who Needs an Umbrella Policy?
If you:
- Own a home or rental property
- Have significant savings or retirement accounts
- Drive regularly or have teen drivers
- Host guests, events, or contractors at your home
- Want to protect your lifestyle and avoid financial ruin
…you need an umbrella policy.
It’s not just for the ultra-wealthy. It’s for anyone who has something to lose.
What Most People Overlook
Most policies max out at $100,000 to $300,000 in liability coverage. But:
- A single accident can easily surpass those limits
- Legal fees aren’t always included in standard coverage
- Settlements can include pain, suffering, or lost wages that exceed your policy
Without umbrella insurance, your base policy is a ceiling.
With it, you add millions in protection—for less than $1/day in many cases.
How Summit Insurance Closes the Gaps
At Summit Insurance Agency, we specialize in helping Colorado and Wyoming families build full-circle protection. That includes liability strategies that extend beyond the basics.
Here’s how we make sure your protection holds up:
✅ We Review Your Liability Exposure
We look at your home value, income, vehicles, dependents, and lifestyle to determine what’s truly at risk.
✅ We Customize Your Umbrella Policy
We match your umbrella coverage to your real-world risks—no more, no less.
✅ We Make It Affordable
We source the most cost-effective umbrella options that work with your current policies to avoid overlap or confusion.
Because the truth is simple: You don’t need more coverage than you need. You just need enough to protect what matters.
Don’t Wait for a Lawsuit to Learn the Limits of Your Policy
Your current coverage might not go as far as you think. And by the time you find out—it’s too late.
Request a quote from Summit Insurance Agency today.
We’ll walk through your existing policies, uncover your liability gaps, and help you decide whether an umbrella policy is right for your situation.