WHAT IS UMBRELLA INSURANCE?
As its name suggests, umbrella insurance provides a critically important layer of financial protection. Yet few people even know what it is. Put simply, umbrella insurance extends the liability coverage of your existing auto and homeowners insurance – starting at $1 million.
DO I NEED IT?
Think you’ll never need THAT much protection? You’d be surprised. These days, it’s not at all unusual for liability lawsuits to reach $1 million. A guest slips and falls on your doorstep… your dog bites a neighbor… your brakes fail and you careen into another car… any of these accidents could suddently place you in a very vulnerable position. Giving you the extra liability protection you need in these situations is what umbrella insurance is all about. Best of all, considering the amount of coverage it provides, umbrella insurance is remarkably affordable. This used to be something that only the wealthy needed to be concerned with, but they’re not the only ones being targeted by lawsuits. The potential court costs and damages can add up quickly and are generally more than the average person can afford. Another benefit to having umbrella insurance is that in some situations, it may even provide personal liability coverage that is excluded under your other liability policies.
Don’t let an unforeseen accident threaten your financial well being. The insurance professionals at Abodeely can review your auto and homeowners insurance, help you determine if umbrella coverage is appropriate for you, and give you a competitive quote. Below are just a few of the articles we found explaining the importance of Umbrella Insurance. Contact Us if you’d like to know more or fill out our online quote form.