There are a lot of confusing terms used in the insurance industry. One of the more perfect terms, however, is “umbrella coverage.” It sounds good, describing a layer of protection above and beyond that of your clothes, jacket or even your raincoat. Umbrella coverage sounds like it would be easy to carry and very comforting to have for that rainy day. That’s pretty accurate and it’s a pretty good place to start when describing what umbrella insurance coverage is intended to do.
If you are like most, you have several forms of liability insurance. You may have liability insurance on your car, on your home, boat or other recreational vehicles. This liability covers you up to a certain limit in case someone would get injured on your property, through an auto accident or any of your other assets. These limits may vary from policy to policy. In other words, you may have more liability insurance on your homeowners’ policy than your auto policy. If both limits are adequate, no problem. The issue can be if you have lower liability coverage on your auto insurance and someone files a claim against you in an accident that exceeds that amount. This could result in a judgment against your other assets. An umbrella policy can prevent that.
A personal umbrella policy adds that extra layer of protection across all of your policies. It can fill in the gaps of present coverage that may not be sufficient in a claim against you. It not only provides added protection but the peace of mind that comes with it. As an added bonus, umbrella coverage can be affordable.
It doesn’t always rain, but when it does, it is very useful to have an umbrella on hand. You may not need your umbrella coverage in all instances but, boy, when you do, it will surely come in handy.
To find out more about umbrella insurance and how it can benefit you, contact us. We’ll discuss your personal insurance and where an umbrella policy may be beneficial. While we are at it, we will be happy to provide a no-cost insurance tune-up. This can help all of your policies work together better in protecting your financial interests. It may even result in lower overall total insurance costs with superior coverage. We look forward to assisting you.
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