Get that additional layer of protection
Understanding how Personal Umbrella Insurance works?
Consider the following example to see how umbrella insurance can assist. If a driver runs a red light and collides with another vehicle, the vehicle may sustain substantial damage, and multiple persons may be harmed.
With car repairs totaling $50,000 and medical care exceeding $500,000, the driver at fault may be held accountable for charges significantly exceeding their insurance coverage limitations. An umbrella insurance policy will cover any additional liability charges that exceed the limits of your car insurance coverage.
Why do I need Personal Umbrella Insurance ?
Consider your assets and their role in promoting financial security to answer that question effectively. Of course, when thinking about assets, the usual items come to mind: your car, house, investment accounts, and checking and savings accounts. However, your projected future income stream can be considered an asset in general. It could be the most valuable asset of all.
If you become the focus of a lawsuit for a large sum of money but do not have adequate insurance to cover the damages, you will have to pay the expenses out of pocket. This could result in severe financial hardship. However, umbrella coverage can protect you from financial disaster if you make an accidental mistake or have an unanticipated mishap.
Check with us to know whether you need additional protection. Then, we can help you find cost-effective umbrella insurance coverage that suits your needs.
With the best insurance agency in Crown point.