What Does Umbrella Insurance Cover?
If you have a serious car accident involving huge medical bills or an incident on your property, you can quickly find yourself responsible for damages that exceed the limits on your auto, boat, motorcycle, or homeowners policies.
An Umbrella Insurance Can Provide:
- An extra $1 million to $10 million of liability coverage, which can help protect assets such as your car, boat, rental properties, and home.
- Coverage for claims like libel, slander, defamation of character, and invasion of privacy.
- An Umbrella also helps cover defense costs, attorney fees, and other charges associated with lawsuits.
- This coverage also extends to international occurrences.
An umbrella policy is a valuable addition to any auto, homeowners, or other policy for extended personal liability protection.
In today’s world, anyone can get hit with a lawsuit. That’s why it’s more important than ever to consider an added layer of protection for your assets – and your peace of mind.
An umbrella policy protects you when your liability limits are exhausted.
If you have assets that are not protected you could get sued for more than the limits of your regular auto or home policies.
If you have assets like multiple rental properties or other assets you could be a prime target for a lawsuit.
The main thing to do is to make sure you’re properly insured with the same limits as you don’t know where a loss could occur- just raising your current limits may be all you need. Liability insurance is one of the few real bargains in insurance.
However, if you have assets and need coverage, the Minneapolis Insurance Specialists Team represents many top-rated insurance companies like Travelers and can provide advice and quotes. Most people are surprised that umbrella policies are affordable.