Under an umbrella policy, you can get the protection that protects you and your assets from the cost of lawsuits. It provides extra coverage on top of what is offered by homeowners or car insurance policies.
Umbrella insurance recommended for anyone with significant assets to protect from lawsuits: people with high incomes, professionals such as doctors and lawyers, business owners, and those with substantial savings.
Umbrella insurance covers you if your other policies do not provide enough coverage for a lawsuit or court settlement; it’s an extra layer of protection to make sure you’re able to meet any costs incurred through cases. It can take some time to collect the money from a lawsuit so that an umbrella policy can provide you with some financial relief in the meantime.
You may find that your car or homeowners insurance policies cover enough for you, but if they don’t and you have assets worth protecting, then umbrella insurance can help with the rest. The most common types of umbrella coverage are personal liability, medical payments, auto physical damage, and legal expenses.
The significant benefits to umbrella insurance include having access to more protection than your other policies provide if you need it. It provides a way for individuals with substantial savings to get more protection if they need it and a method for families with several dependents to get more coverage.
Secure the BEST