Life is stressful enough, you really should not have to stress insurance, but without the right kind of protection you can open yourself up to a catastrophic financial loss far beyond the protection that your regular car offers you and home insurance.
If you are wondering what umbrella insurance is and what is covered by umbrella insurance keep reading as we go through important information about this type of insurance.
What is umbrella insurance and what does umbrella insurance cover?
Umbrella insurance is a type of liability insurance that both companies and individuals can take out. Umbrella insurance generally covers damages of between $ 1
In addition to offering extra liability protection for property damage or personal injury, umbrella insurance can also help cover other types of personal liability scenarios, legal costs and litigation. If you have umbrella insurance, you can usually claim cases involving libel of a nature, libel and invasion of privacy. The most important thing is that umbrella insurance provides protection for current and future personal assets to prevent them from being used to cover damages that you have caused as well as any legal fees.
For example, if you cause accidental damage to someone's car and are sued for damages, you can be expected to pay a substantial sum and it is very likely that your car insurance will not be enough to cover the entire amount. In such cases, the umbrella insurance will help you pay the outstanding balance. In other words, umbrella insurance offers additional protection outside the boundaries of your regular home or car insurance.
Who needs umbrella insurance?
Choosing umbrella insurance is not an easy task. If you are unsure about getting an umbrella insurance policy, you may want to consider what would happen if the accident you caused on someone's car also injured a professional with a large salary that can no longer work as a result of the accident and injuries you caused.
It may be shocking to hear, but the reality is that you can be sued for up to a million dollars. There are many more potentially catastrophic circumstances beyond your control, where an umbrella insurance policy can offer you much needed peace of mind.
What is not covered by an umbrella policy?
A personal umbrella insurance policy usually does not include damage to your own property, your commercial property or losses related to your business. Umbrella insurance also does not cover damages or protect you from liability caused by your own intentionally harmful behavior.
For in-depth information on what is allowed and what is not covered by umbrella insurance, as well as suggesting other types of insurance that you may need in addition to umbrella insurance, it is best to consult with an insurance agent who will be able to give you the right information that you need to make an informed decision.
Obtaining umbrella insurance from Paradiso Insurance
If you are wondering if you need a personal umbrella insurance or if you want guidance on choosing the right type of insurance, do not hesitate to contact our reliable and experienced insurance. insurance agents. We are happy to help you.