Umbrella Insurance Is a Smart Investment
If an unexpected accident occurs, do you know if the terms of your current policy would cover the costs?
While your home and auto insurance provides you with protection in the event of a loss, you could still incur out-of-pocket expenses once your liability limits are met. This is why umbrella insurance is essential. An umbrella insurance policy provides an extra level of financial protection and takes effect once your standard home and auto policy has been exhausted.
Umbrella insurance also has the added advantage of “dropping down” to cover any gaps in your existing policies. Sold in increments of $1 million or more, umbrella insurance can be easily added to your current insurance package for as little as $150 to $300 per year – a small investment for protection from potentially life changing accidents.
Umbrella coverage often provides:
- Protection for covered claims by others for personal injury or property damage caused by you, members of your family/household, or hazards on your property for which you are legally liable
- Personal liability coverage for occurrences on or off your premises
- An additional layer of protection above your primary auto policy against auto-related liabilities
- Protection against non-business related personal injury liabilities such as slander, libel, wrongful eviction or false arrest
- Legal defense costs for a covered loss. Lawyer fees and associated court costs are covered.
- Worldwide coverage – no matter where you go, with the only exception being situations involving foreign ownership of dwellings or cars
Adding an umbrella insurance policy can give you added protection at a typically inexpensive rate, especially when compared to the coverage you gain. Safeguard your financial future and call Butler and Messier at 401.728.3200 to learn more about adding umbrella insurance today.
Information for this article provided by: Umbrella Coverage Basics
