Umbrella Insurance
Umbrella Insurance
Umbrella insurance provides coverage when a traditional policy stops working. It’s usually used concerning issues of liability. For example, someone might face a lawsuit following an auto accident. Their traditional auto insurance will pay only so much. Once the auto policy has done its part, then umbrella insurance can cover the rest up to its limits.
Who Needs this Coverage?
Anyone with concerns that their needs will not be met under a single type of insurance plan can consider umbrella coverage. A person might also have special circumstances that require an umbrella plan, such as looking to cover themselves as a business and as an employee simultaneously.
The Details
Just about any situation can be covered by umbrella insurance. Keep in mind that an umbrella policy is not a standalone type of policy. So it can actually work with just about any type of traditional policy. It is commonly used with homeowner’s policies and auto policies. But there are many options.
You can customize the plan to fit your needs. Speak with an insurance agent to learn details, and to see if umbrella coverage is recommended for your situation.
Benefits
The main benefit of umbrella coverage is it provides extra protection. Sometimes your primary insurance just isn’t enough. That is when umbrella coverage helps make things easier.
