West Virginia Umbrella Insurance

Experts break down West Virginia umbrella insurance costs, coverages, companies, and more.

Written by Sara East
Written by Sara East

Insurance doesn’t have to be boring. That’s why we hired Sara East to be our BA insurance writer. Maggie specializes in making mundane subjects hella-entertaining.

Reviewer: Jeffrey Green Reviewed by Jeffrey Green
Reviewer: Jeffrey Green
Reviewed by Jeffrey Green

Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career.  He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.

Quiet street in small West Virginia town. Find West Virginia umbrella insurance.

A personal injury lawsuit could cost you anywhere from several thousand to several million dollars. If you cause a fatal car accident or are sued by someone visiting your property in West Virginia, all of your assets could be targeted. An umbrella insurance policy is the best way to protect your personal wealth and belongings should an unexpected legal claim come against you.

Whether you're ready to purchase a policy or are shopping for umbrella insurance quotes, a local independent insurance agent is the place to start. Agents are qualified professionals that can help you navigate insurance quotes and find you sufficient coverage against lawsuits.

What Is Umbrella Insurance?

Your standard West Virginia homeowners and auto insurance policies will include some liability coverage that would protect you if you're sued for third-party injury or property damage. Umbrella insurance is an extension of this liability coverage that goes above and beyond your existing policy limits.

For example, if you're sued for third-party medical bills after a car accident and your financial obligations are $1 million, that would exceed your standard liability limits. If your auto liability limits are $300,000, then your umbrella policy would pay the remaining $700,000 you're obligated for after you've exhausted your auto limits.

What Does Umbrella Insurance Cover in West Virginia?

Umbrella insurance is designed to pay for any costs associated with a liability claim. This ranges from legal fees to funeral costs and several other things including:

  • Injuries or property damage that may take place in your home
  • Injuries or property damage you do with your vehicle
  • Funeral costs
  • Legal fees including court fees, settlement costs, and judgment fees
  • Libel or slander

An umbrella policy will not cover things like:

  • Intentional injury or property damage
  • Injuries or damage that occur while you're committing a crime
  • Personal injuries or property damage

Since you must exhaust your underlying liability limits before an umbrella policy will kick in, most insurance companies will require that you purchase the maximum auto and home liability coverage before they'll offer you an umbrella policy. An agent can help you determine the max amount of coverage available.


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How Much Umbrella Insurance Do I Need in West Virginia?

Umbrella policies are typically sold in $1 million increments. For some, $1 million will be adequate, while others may need to multiply that number significantly. The main things to think about when determining how much umbrella insurance to purchase are the risks you face, your total net worth, and any potential loss of future income.

Those who are personal coaches or providing legal advice to others have more at stake than a homeowner who has a lot of visitors over. To assure that you're fully protected, it's best to purchase enough umbrella coverage to equal your net worth. However, your agent will work with you to determine the right amount of coverage for you.

Who Needs Umbrella Insurance in West Virginia?

If you're thinking that you do not need a $1 million umbrella policy, keep in mind that everything you own is exposed if you're sued. The following individuals have increased risks of lawsuits and should consider umbrella insurance:

  • Landlords
  • Homeowners
  • Public figures
  • Professional coaches
  • Business owners
  • Parents

Additional things to consider if any of the following scenarios apply to you:

  • You have a home, savings, investments, or lifestyle you would like to protect
  • You practice a service-oriented profession such as physical therapy or cosmetology, which could potentially lead to a client's injury
  • You offer financial or legal advice to others, which could cause them financial or emotional loss
  • You own a business that entertains or serves customers on the premises
  • You keep an uninsurable breed of dog or you allow others to hunt, ride ATVs, or engage in other risky activities on your property
  • You are currently in engineering, medical, or law school, and you have a high potential for future earnings

An agent can help you determine if you're a good candidate for an umbrella policy. They'll work with you to learn about your assets and guide you in your purchasing decisions.

Can You Deduct Umbrella Insurance on Your Taxes in West Virginia?

Personal insurance premiums are not tax-deductible, so you cannot deduct the price you pay for your umbrella insurance from your taxes in West Virginia. 

The exception to this rule is if you're a business owner and have purchased a business umbrella policy. In this case, you would be able to deduct your premium along with other business insurance premiums that you're paying.

Who Are the Best Umbrella Insurance Companies in West Virginia?

Several companies offer umbrella insurance in West Virginia, which is why it's important to shop around. Shopping for multiple umbrella insurance quotes is the only way to guarantee you're getting the best price available from a top-rated company.

An independent insurance agent is familiar with local insurance companies and knows the best umbrella insurance companies in West Virginia. Having worked with these companies before, they'll do the hard work of pulling insurance quotes and finding you the best deal available from a reputable carrier.

Why Shop Umbrella Insurance with a West Virginia Independent Insurance Agent?

Accidents happen every day and one unexpected event could leave you with financial obligations beyond your means. For just a few hundred dollars a year, umbrella insurance can provide you comfort by knowing you're protected. To find the best umbrella insurance quotes in West Virginia, you need a certified expert such as an independent insurance agent.

There's no obligation when it comes to working with an agent. They'll pull quotes for you, free of charge, and can answer any questions you have along the way. Should you need assistance purchasing, updating, or filing a claim, they can assist with that as well. Find an agent in your area today and secure an umbrella policy that protects your assets and livelihood.

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