With all the different types of insurance you can buy, the term “umbrella insurance” can be confusing or totally unfamiliar to many! Below, I will explain what umbrella insurance coverage is, what it covers, and why this cost effective insurance is right for you.
Put simply, umbrella insurance covers claims which might not be covered by your other existing insurance. If you find yourself liable for an excessive claim which is not covered by your existing home or auto insurance, umbrella insurance could save you from paying these large costs out of pocket. The best part? Umbrella insurance covers not only the policyholder, but all members of the household!
While it does not cover personal property damage, umbrella insurance covers more than you think! Claims covered by umbrella insurance usually consist of: other’s property damage, personal liability, injury, and even some lawsuits. These examples may seem vague and unlikely (especially lawsuits), but these issues can be more probable than you think. For example, if you are at fault for a multiple car accident, odds are your auto insurance won’t be able to completely cover the costs for all the cars damaged. Similarly, umbrella insurance would cover lawsuit costs caused by a neighbor getting hurt in your house or backyard. With all it can cover, umbrella insurance can truly give you peace of mind regardless of what life sends your way.
Umbrella insurance is right for you if any of these apply to you:
- You own a car
- You own a home
- You have a family
- You wish to protect yourself (and your bank account) from excessive costs or lawsuits.
Life is anything but predictable; for an affordable monthly cost, umbrella insurance coverage protects you and your family from worst case scenarios. If you are interested in umbrella coverage, call me at (612)-440-1306 or email me at info@agentminsurance.com and get a quote that fits your needs and budget!
