Umbrella Coverage

Life is full of uncertainty, and unexpected events can happen at any time. Even if you already have auto, homeowners or renters insurance, it’s important to understand that umbrella insurance can offer an extra layer of essential protection. Whether you’re a homeowner, a business owner or simply seeking peace of mind, knowing about umbrella insurance is crucial.

What Is Umbrella Insurance?

Umbrella insurance can extend liability coverage beyond what your existing policies, like auto or homeowners insurance, offer. If you’re responsible for injuries or property damage, and your other policies fall short of covering the costs, an umbrella policy can help fill that gap. This coverage is particularly valuable when medical bills or repairs exceed the limits of your primary auto, homeowners or boat insurance.

Does Umbrella Insurance Cover Legal Fees?

If you’re faced with a lawsuit or legal expenses due to an incident covered by your umbrella policy, it can help cover those costs. Keep in mind that specific coverage details can vary, so it’s essential to review your policy and consult with your insurance provider for precise information.

Are There Any Benefits to Having Umbrella Insurance?

Umbrella insurance can offer the following benefits:

• Broad coverage—Umbrella insurance can offer extensive coverage at a relatively low cost. It can help financially protect your assets, including your home, if you’re found liable or negligent for injuries or damage.

• Additional protection—It kicks in when your home or auto coverage limits are exhausted, creating a larger pool of resources in a lawsuit or claim. Plus, it covers things that home and auto policies don’t, such as libel, slander and false arrest.

• Asset protection—An umbrella policy safeguards your assets beyond what standard policies offer, giving you peace of mind.

Umbrella insurance doesn’t cover everything, and you’ll likely need higher limits on your underlying policies, which may increase overall costs. If you’re unsure whether you need it, contact Area Insurance Services to consult with an insurance professional to make an informed decision.