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500 Mitchell St Clovis, NM 88101

New Mexico Other insurance coverage
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Umbrella Insurance in New Mexico

Umbrella insurance provides added protection from liability and in some cases covers legal costs for defending against a lawsuit. Umbrella insurance kicks in after the policy limits of other insurance are exhausted by the claim. A claim under umbrella insurance is also possible under certain circumstances when other insurance does not cover the incident, such as libel and slander.

Why Umbrella Insurance is Vitally Important

An umbrella insurance policy is not only a good idea in the state of New Mexico, it is essential. New Mexico is a tort state. This means that even if the maximum amount of an insurance policy limit pays on a claim, there is still a possibility of a lawsuit for excess damages, injuries, or deaths that are determined to be a person’s fault.

Extremely High Awards Made by Juries in New Mexico

Two prominent legal cases, with extremely high award amounts; show why having umbrella insurance is a necessity in the state of New Mexico:

  • The Santa Fe New Mexico publication reported in 2013, a jury awarded $58 million to the family of a man killed by a truck because of the truck driver’s lack of training and previous safety violations of the company.
  • KRQE television news reported in 2015, that a jury in New Mexico awarded $165 million to the family of a women and her 4-year old daughter killed by a FedEx truck. The truck doing 65 MPH, hit her vehicle while it was stopped off the freeway with emergency lights flashing.

Those are two extreme examples of what can happen. Nevertheless, even a smaller award of a multi-million dollar amount is enough for a person to lose everything or to bankrupt a business. Vehicle owners, homeowners, and business owners in New Mexico need to take these risks very seriously.

Umbrella insurance adds extra liability protection to auto, home, and commercial insurance policies.

General Insurance Agency are Clovis, NM umbrella insurance agents who are happy to discuss this type of insurance with you. We are independent insurance agents that are specialists in umbrella insurance coverage.

Contact us today for all of your insurance needs and to reduce your risk from such huge liability awards with adequate umbrella insurance coverage.

Servicing these States

  • New Mexico
  • Texas
  • Oklahoma

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