Is Umbrella Insurance Valuable Coverage I’m Missing?

Importance of Umbrella Insurance

Umbrella coverage provides protection beyond the usual.

Insurance is there to protect your family and assets when accidents and financial threats arise. However, every insurance policy has limits. Should an accident or damage occur that exceed this limit, you can use your ‘umbrella’ to ‘cover’ your assets for the ‘storm’ of financial worry. In short and without rain puns, it extends the limits of your primary liability policies.

An umbrella policy kicks in after you’ve had a costly accident once you’ve exceeded the limits of your home and auto policies. For homeowners and motorists alike, it’s valuable insurance to own! If you think you’re safe from needing a policy, check out what an umbrella insurance policy covers:

When you’re sued: Your standard homeowners or auto policy will provide you with some liability coverage, up to a limit set in the policy. However, you may want (and need) an extra layer of liability protection. An umbrella policy will also cover you for things such as libel and slander.

When you’re involved in a car accident involving multiple vehicles: If you’re at fault for a major accident, your auto coverage may not be enough to cover all the passengers’ medical bills and car damages! If you needed to cover all of these expenses, you can say goodbye to your savings and your assets.

When your home guest is injured: Should a visitor slip or fall into your swimming pool, trampoline, or suffer a serious injury on your property, you could be responsible for some hefty medical bills and an expensive lawsuit. Your homeowners insurance policy offers a certain limit of liability protection, but anything over that is on you!

Are you ready to receive extensive protection through an umbrella policy? Contact North American Advantage Insurance Services in Dallas, Texas to get started!