UMBRELLA INSURANCE
Life can be unpredictable, and sometimes, your regular insurance policies may not be enough. That’s where umbrella insurance comes in. It provides an extra layer of protection above and beyond your existing coverage, ensuring that you’re not left financially exposed in the event of major accidents or lawsuits.
Why You Need it
Accidents happen, and the costs can be overwhelming. Your car or homeowners insurance may cover some damages, but what if the costs exceed your policy limits? Insurance steps in where your primary coverage ends, protecting you from lawsuits, major accidents, or property damage that go beyond standard policy limits.
It helps protect your savings and assets in case of a large claim. This is especially useful for people with significant assets, providing extra peace of mind.
Types of Coverage
It covers a wide range of risks, offering financial protection in various scenarios:
Liability Coverage
Provides liability protection if you’re found responsible for damages or injuries exceeding your auto or homeowners insurance limits. It can cover medical bills, legal fees, or settlements.
Legal Costs
If you’re involved in a lawsuit, even if it’s not your fault, helps cover legal fees and defense costs.
Personal Injury Protection
Covers personal injury claims like defamation or false arrest, helping with legal fees and settlements tied to accusations that could damage your reputation.
Rental Property Coverage
If you own rental properties, it protects you if a tenant or visitor gets injured and you’re held responsible. It covers medical bills, legal fees, and claims exceeding property insurance limits.
How It Works
An umbrella policy kicks in after the limits of your other insurance—like auto, homeowners, or boat—are reached. For instance, if you’re at fault in a car accident and medical bills exceed your auto insurance, the umbrella policy covers the rest. This extra coverage applies across multiple areas of risk in your personal life.
Benefits
Umbrella insurance provides financial security and peace of mind. It ensures you won’t lose assets or pay out of pocket for large claims. For its affordability compared to the protection it offers, it’s a smart investment for safeguarding your wealth and lifestyle from high-cost, unexpected events.
Umbrella insurance is an important tool for protecting yourself and your assets from unexpected events that could result in costly lawsuits or claims. It provides extra coverage when your regular insurance limits fall short. At Insurance Company Westerville Ohio, we offer umbrella insurance solutions designed to give you the peace of mind you need. Contact us today to find the right umbrella policy for you!