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In today’s world, many people will sue other people and businesses over any little thing. Lawsuits are prevalent among people with a lot to lose. Umbrella insurance is one way to protect yourself from losing everything if someone files a lawsuit against you. What exactly is umbrella insurance, and how can you benefit from it?
What is umbrella insurance?
Umbrella insurance is personal liability insurance not tied to your auto or home insurance. While it is a good idea to have liability insurance for your auto and home insurance policies, umbrella insurance is a separate type of liability that offers further protection. Most insurance companies require you to have a certain amount of liability insurance for your home and your vehicle before allowing you to get umbrella insurance.
One cool thing about umbrella insurance is if you get into a car accident that costs more than your auto liability insurance limit, your umbrella policy kicks in to cover the rest of the cost. Umbrella insurance works the same way as home insurance. If someone is jumping on your trampoline, your home insurance will cover up to a certain amount, and then your umbrella policy takes care of the rest, so you don’t have to.
How can umbrella insurance benefit you?
As mentioned above, there are a few benefits to umbrella insurance. When you get into a car accident, umbrella insurance covers the liability costs after the limits of your auto insurance run out. If someone gets injured on your property, your umbrella insurance covers what your home insurance doesn’t cover.
On top of extra coverage for your car and home, umbrella insurance covers other things that general liability coverage doesn’t, such as libel, slander, and defamation of character. If you have a trampoline, swimming pool, or any high-risk factors, umbrella insurance can give you peace of mind, knowing that you will be protected if someone were to sue you.
Contact Wichalonis Insurance Agency
Here at Wichalonis Insurance Agency, we will help you with your insurance needs in Cumming, GA.
