If you’re a Texan and own property, you’ve likely heard about umbrella insurance. But do you know what umbrella insurance is and why it’s important? In this article, we explain the basics of umbrella insurance and how it can benefit Texans in the event of unexpected financial hardship.
What is Umbrella Insurance?
Umbrella insurance is an additional layer of liability protection that provides coverage above and beyond your existing policies. More specifically, it provides extra liability coverage beyond your home, auto, or business liability policy limits. This type of policy is designed to protect you from potential lawsuits brought by third parties for bodily injury or property damage claims in case your existing policies don’t provide enough coverage.
Why Should I Get Umbrella Insurance?
Umbrella insurance can provide valuable protection if you have assets that could be at risk should you ever be sued for damages exceeding the limits of your existing policies. Even if you believe that your current home, auto, or business liability policies provide adequate protection, there are still many circumstances where an umbrella policy could be beneficial.
For example, if someone were to slip on ice outside your home or if a family member accidentally caused a motor vehicle accident while driving your car, those would both be occasions where an umbrella policy could help cover any costs not already covered by other liability policies. Additionally, if you own multiple properties or businesses with different types of liabilities associated with each one, having an umbrella policy can help protect those assets in the event they are ever affected by a lawsuit.
When Should I Get Umbrella Insurance?
It’s never too early to consider getting umbrella insurance. The cost can vary depending on the amount of coverage needed, as well as individual factors like age and credit score—but regardless of cost, it may make sense for anyone who owns substantial assets to purchase this type of additional protection. After all, it only takes one incident to result in serious financial losses without appropriate coverage!
Umbrella Insurance With Insureberry
Umbrella insurance is an essential form of additional liability protection for Texans who own property and want to ensure their assets are adequately protected against potential lawsuits from third parties for bodily injury or property damage claims. With its ability to provide extra coverage beyond what existing policies allow for, an umbrella policy could prove invaluable should any unforeseen events involving your property or business activities occur. Whether you already have existing home and auto insurance policies or not—it never hurts to get extra peace of mind with comprehensive umbrella insurance! Plus, getting an umbrella insurance quote from Insureberry is a quick and easy process. Call (877)962-4776 to speak to a licensed agent about your coverage options.