You may think that you are truly covered by your insurance. But are you really and truly protected? Imagine you were driving your car and accidently run into your neighbor’s porch, causing a lot of damage to your car along and to your neighbor’s property. Ok, so your car is insured and covered, but who will pay for the huge claims made by your neighbor.
This can burn deep into your pockets, if you don’t have the umbrella policy.
How Does Umbrella Policy Work?
We are living in a world where everyone is filing lawsuits against each other. The claims that are made can completely destroy someone financially if they are not thoroughly protected. Few people truly understand the importance of a personal umbrella policy.
The umbrella policy is added to supplement the original policy. In case of a claim made against you that extends beyond your coverage, the umbrella policy comes into play.
The umbrella policy, however, does not cover intentional damage to other’s property or damage caused with criminal intent.
The Benefits of Personal Umbrella Policy
Personal Umbrella Policy does provide with many benefits:
- The umbrella policy protects you from facing severe financial penalties and costs in case of claims made against you.
- You are also protected if your pet or your family were involved in an incident that resulted in claims made against you.
- It is of great value, with a little investment of a few hundred dollars, you are provided with coverage of up to 1 million dollars.
- You can relax and not worry about your savings being effected in case of a mishap.
Do I Need Personal Umbrella Policy?
Well everyone can and should avail the personal umbrella policy. You should definitely get the extra coverage, especially if you are in possession of a large real-estate or other valuable assets. This would protect you from losing your wealth when people make liability claims against you. You should also consider getting the umbrella policy when you have pets that can potentially cause damage to others.
Even when you are not a wealthy person or have pets, it might still suit you to get the umbrella policy to protect you from unforeseeable mishaps. These unfortunate events can result in people suing you for a lot of money which can really damage you financially. So getting the personal umbrella protection does make a lot of sense.
The Bottom Line
Getting proper insurance coverage for peace of mind is necessary. To protect yourself and your family it is crucial that you get the right information and guidance. You should not be paying for unnecessary insurance coverage nor avoiding paying for the crucial protection that is needed. To get proper guidance through trusted and reliable agent you can contact C.K. ASH INSURANCE.