Sometimes an insurance policy just doesn’t provide as much coverage as you need. That’s when you need umbrella insurance.
Umbrella insurance is extra coverage when a claim exceeds the amount covered by your insurance. A major car accident or a serious injury at your home or business can leave you in a bad position unless you have the additional coverage. Medical expenses can add up quickly and easily be more than what your regular policy will pay for.
When someone suffers a serious injury or even worse, death, and you’re liable, you could end up losing your home or other assets in a lawsuit. To protect your family, your home, your business and any other assets you may own, you need a policy that will pay for those extra expenses.
Umbrella insurance is an important policy to have in place if you have substantial assets. You can get a policy for $1 million or even $5 million to pay out if you should be held liable for a serious injury.