Auto insurance protects your car, home insurance protects your home, but what is protecting you? When you find yourself liable for causing injury and damage to another person or persons, you may be at risk. You may have the potential of losing quite a lot if another person pursues a lawsuit against you. You may be surprised to see how often you are at risk of being sued. To ensure you are protected, you may want to consider getting umbrella insurance. InsureWise would like to share more about Umbrella insurance and its many benefits.
What is Umbrella Insurance?
Umbrella insurance is a type of personal insurance that helps to cover a claim that is larger than what your homeowners or auto insurance will cover. Umbrella insurance can help pick up where your other insurance policy stops. Umbrella insurance can also cover certain liability claims that are not included in your other insurance policies. Umbrella insurance can cover a homeowner that has friends, co-workers and others over to their home for activities where people can get hurt. Umbrella insurance can help protect you if your dog bites another dog or person. Umbrella insurance can be a person’s greatest asset.
What Does an Umbrella Policy Protect You From?
One of the primary reasons and benefits of having Umbrella insurance is that you and your personal assets are protected. Umbrella insurance is a policy that is designed to protect an individual or a household. Some people may have people over to their home, perhaps you have young drivers on the road, or maybe you have dogs or other pets where you may benefit from umbrella insurance. If you are at fault for injuring or damaging another person’s property, and a lawsuit is filed against you, the potential exists that you might lose and find yourself in financial hardship. Umbrella insurance can help provide you the financial support you need if you find yourself at the wrong end of a lawsuit or claim.
Lawsuits are Common
It is unfortunate to learn that lawsuits are common and hundreds of lawsuits are filed every day. You never know when you may find yourself in court. Lawsuits are costly and are all too common these days. When you find you need help in the event of an accident, and your insurance company doesn’t cover the full cost of the lawsuit, or the nature of the lawsuit isn’t covered by most insurance policies, an Umbrella insurance can protect you from an unexpected lawsuit.
Umbrella Insurance Provides Flexible Coverage
Umbrella insurance can provide a wide range of different types of coverage. Everyone has a different set of circumstances for additional coverage and needs. When you cannot find an insurance policy that protects you in certain circumstances, umbrella insurance will. If your homeowner’s and auto insurance may not pay enough, umbrella insurance can pay more. If you need more coverage or find you have a special need that most insurance companies simply do not cover, Umbrella insurance is very flexible and can help fill in the gaps.