When it comes time for the teenager in the house to start driving, call your insurance agent and let them know there will be an extra driver in the house. Then you can either add your teen to your own policy or, if they will be driving their own car, insure them under your current insurance provider to get a multi-driver household discount. If your teen is a good student, most insurers will offer a good grade discount for making at least a 'B' average and/or taking driving safety classes.
An umbrella policy, designed to pad your auto insurance, typically provides from one to five million more dollars in liability overage than a normal insurance policy. It's like having an extra layer of padding, or coverage, if ever sued in a lawsuit after an accident. An umbrella policy will help to cover any extra expenses after your liability coverage is exhausted.
Costing in the range from one hundred and fifty to three hundred dollars for one million dollars of coverage, the prices strongly jump as the next million will cost another $75, and $50 following that. Most insurers want policyholders to have at least $250,000 of liability coverage on your auto policy before they will sell you an umbrella policy for one million dollars coverage additionally.
Though often thought to be too complicated and too expensive, umbrella liability can easily be coordinated to sit on top of your current auto insurance coverage to give you some extra protection. In the days where litigation over next to nothing happens frequently, some people think a person shouldn't be without an umbrella policy. After all, it does pay up to one million dollars or more of a claim in addition to your usual insurance coverage.