When it comes to protecting your assets, traditional insurance policies like auto and home insurance cover a lot, but there are times when they might not be enough. This is where an umbrella insurance policy comes into play. Designed to go above and beyond standard coverage limits, an umbrella policy provides an extra layer of security against large claims and lawsuits. Let's explore what an umbrella policy is, why you might need one, and how it could be a crucial addition to your insurance portfolio.
Understanding Umbrella Insurance
Umbrella insurance is a type of liability policy that extends your existing coverage. It provides additional liability protection beyond the limits of your other insurance policies, such as home, auto, or boat insurance. This type of policy can cover various situations, including personal injury to others, property damages, and certain lawsuits.
The Benefits of an Umbrella Policy
Consider the potential scenarios like major car accidents or a guest injury at your home. An umbrella policy steps in when the liability limits of your underlying policies are maxed out, ensuring you are not personally liable for the excess amount. It can cover legal defense costs, medical bills, and judgments or settlements, protecting your savings and assets from being drastically affected.
Why You Should Consider Adding Umbrella Insurance
In today's litigious society, lawsuits can happen, and the financial consequences can be severe. An umbrella insurance policy becomes particularly valuable for individuals with high net worth or those with significant property and assets to protect. Additionally, umbrella coverage is affordable, often offering million-dollar increments of extra coverage at a reasonable price.
Getting a Quote
If you think an umbrella insurance policy might be right for you, we're here to help. At Fortner Insurance Services, we have extensive experience in tailoring insurance packages that meet the unique needs of our clients. We invite you to call or email us for a quote or further discussion about how an umbrella policy can benefit you. Our team is dedicated to ensuring you have comprehensive protection for peace of mind.