Is Umbrella Insurance Right for You?
You know there are many different kinds of insurance out there, but what do you need to feel protected and what do you really need to cover you in the event of an unforeseen circumstance? While you likely have car insurance, home insurance, and possibly even life insurance, have you ever heard of umbrella insurance? Is it the right fit for your lifestyle? Decide if umbrella insurance is necessary for you with the information provided below.
Umbrella Insurance Defined
Umbrella insurance protects you against claims and lawsuits that might take your coverage and policies beyond their limits. It can protect your assets in the future by covering home, auto, and boat insurance when those policies are exhausted and hit their limits. It can also cover claims that might be excluded by policies you already have like libel, liability, rental units, and more. If you worry that your current policies aren’t going to cover everything you might possibly need, umbrella insurance is the extra protection you need.
Umbrella Insurance Coverage
You can use umbrella insurance to cover injuries, some lawsuits, property damage, personal liability situations, and more. Your car and homeowners insurance might cover some of these situations, but the umbrella insurance will cover you even farther if those policies are limited and you use them all up. The rates aren’t as much as you might think, and they can really pay off if you ever have cause to use the coverage. Here are some examples for times you might dig into these policies:
Liability for Bodily Injury
If you cause a serious car accident and you’re at fault, the umbrella coverage could help you with expenses. If your dog harms someone or if someone falls within your home, the policy can kick in then as well. If a child falls playing in your yard, it could come in handy.
Property Damage Liabilities
If you or someone else loses property because of something you do or you are at fault, the policy can help. If you get into a car accident, for example, and it was your fault, the policy can help pay for both of the repairs.
People can sue you for almost any reason today and umbrella policies can help you cover yourself in those cases. If you are sued for slander, for example, for making an injurious spoken statement, or libel, a written statement, the policy can help you with legal bills.
Get Umbrella Insurance for Added Protection
You know that life can be unpredictable. Bad things happen to good people, whether you intend them to occur or not. When you get into a car accident, have an issue with your property, or say something you don’t really mean, it can cost you. When your insurance policies run out, umbrella policies can be there to cover the rest. Contact Nickerson Insurance Services for more details about the benefits of umbrella insurance. Our trustworthy insurance agents will explain everything so that you fully understand your coverages.