Umbrella Coverage Information
If an accident or something unanticipated occurs for which you’re legally responsible and you don’t have the proper protections in place, you might jeopardize your financial well-being. Even though you may have the proper personal lines of insurance, such as auto and homeowners or renters insurance, you may benefit from securing an added layer of financial protection. Umbrella insurance can help provide such protection, and we can help you learn more about this line of coverage, as well as get a policy quote today. Call us to learn more.
What Is Umbrella Insurance?
Umbrella insurance may help cover liability costs that exceed your existing liability policy limits. For instance, if you cause an auto accident and injure someone, your auto insurance may cover the driver’s medical and vehicle repair costs up to your policy’s limit. However, if the injured’s medical expenses or the property damage exceed your policy’s limits, an umbrella insurance policy may help cover the additional costs.
What Does Umbrella Insurance Cover?
Umbrella insurance may provide an additional layer of financial protection, paying costs that exceed your existing policy’s liability limits for covered claims. It may also cover specific liability claims that may not be covered under your current policy, including libel or slander. Umbrella insurance covers not only you but also provides coverage for members of your household named on your existing policies. Without this critical coverage, you may be responsible for paying for liability costs that exceed your current policy protections.
What Does an Umbrella Policy Mean?
An umbrella policy means added financial protection against high-cost liability claims. Coverage benefits anyone who wants more liability protection because you can’t predict what may happen in the future. Still, it’s especially vital if you want to protect your assets so you can’t potentially lose them in a lawsuit.
Who Needs Umbrella Insurance?
Although not legally required, an umbrella policy may be beneficial if you have many assets to protect or a high likelihood of being sued. Umbrella coverage may be advantageous if you don’t want to shoulder financial worries.
Protect Your Financial Future
Buschbach Insurance can help you with an umbrella insurance policy that can protect your livelihood. Call 708-423-2350 to get started on your policy.