You may have heard it said before or maybe even mentioned to you while you were shopping around for insurance but if you do not know what it is, how could you know if you need it? Umbrella insurance is a form of supplemental insurance but it is not right for everyone. It is something to consider, however, if you have a lot of assets you want to protect. Continue reading to learn more about umbrella insurance and see if it is something you should consider.
Umbrella insurance is something that you purchase when your standard homeowners, auto, or even boat insurance does not cover the value of the asset. While each of these kinds of policies come with a minimum you must purchase, they also come with a maximum you can purchase. That is where an umbrella policy comes into play. It can cover your assets when they are over the maximum amount of your traditional insurance policy.
Umbrella insurance is much more than that, though. It can also protect you from non-work related personal injury cases such as false arrest, wrongful conviction, slander, and libel. It provides you with personal liability coverage both on and off the property. It is a worldwide coverage as well. It can even cover the cost of legal fees for a covered loss. It is something to consider if you want to further protect yourself and add others kinds of coverage that traditional policies do not cover. These kinds of policies are available between $1 million and $5 million depending on your protection needs.
For more information about umbrella insurance policies or to get a quote, contact us at Express Insurance today. We will be happy to assist and help out with your insurance options.