Most people have limited knowledge concerning the benefits of umbrella insurance coverage. Umbrella insurance offers protection above and beyond the coverage limits of standard home and auto insurance policies. This extra protection can help secure your valuable assets against any eventuality.
Who Can Benefit from Umbrella Insurance?
Umbrella insurance can benefit middle class families in California as much as those in the upper echelon of society. If you own a vehicle, you run the risk of being sued for damages or injuries to others if you cause a serious auto accident that results in disability or death to a third party.
As a homeowner, you may be sued for injuries sustained by visitors in an accident on your property. Imagine, for example, a neighbor’s child accidentally drowning in your pool. If your neighbor decides to sue, your liability would probably extend far beyond the limits of your home insurance policy.
Umbrella insurance gives you an extra layer of protection, generally into the millions of dollars, beyond your current home or auto coverage. Your umbrella policy will also cover all legal fees along with your settlement.
What You Stand to Lose
If you are hit with an unexpected lawsuit, you risk the loss of such assets as savings, retirement funds, financial investments and home equity. In some instances, you may be required to pay money from future earnings to settle the account. On top of a settlement, you may have to pay for legal fees for both parties. Such lawsuit expenses can easily cause financial ruin. By covering the expenses of a costly lawsuit, umbrella insurance can protect you from financial loss.
Call or visit us at Express Insurance today to learn more about umbrella insurance coverage. Your financial future could greatly benefit from the preventative measures that umbrella insurance has to offer.