What you didn’t know about umbrella insurance.
When it comes to protecting the things that matter the most, umbrella insurance is extra liability coverage that goes above and beyond the limits of your other insurance policies. Your umbrella policy also covers situations that aren’t covered by your primary policies, giving you peace of mind that you are well and truly covered. Take a look at these lesser-known facts about umbrella insurance that demonstrate how valuable this coverage is.
- Umbrella insurance protects you against liability risks
Whether you’re a homeowner, motorist, business owner or all three, there will always be a certain amount of risk in your life. If the worst does happen, umbrella insurance can step in to protect your assets, even when you have exhausted your current liability limits on your homeowners/renters/auto/motorcycle insurance policies.
- You could lose everything without umbrella insurance
Think about it – accidents are expensive. If you were to cause an auto incident which involved several vehicles and people, the cost of compensation could be in the hundreds of thousands, if not millions. Most auto insurance policies would not be able to cover the full amount. This is when umbrella insurance would step in to help so that you are not on the hook for the remaining expenses.
- It’s affordable
Acquiring suitable umbrella insurance doesn’t have to cost the earth. You can receive millions of dollars in excess liability each year for an affordable price for your budget.
Are you looking for umbrella insurance coverage? Talk to the team at Young Insurance to get started on reliable cover today!
