In today’s world, many people will sue other people and businesses over any little thing. Lawsuits are prevalent among people with a lot to lose. Umbrella insurance is one way to protect yourself from losing everything if someone files a lawsuit against you. What exactly is umbrella insurance, and how can you benefit from it?
What is umbrella insurance?
Umbrella insurance is personal liability insurance not tied to your auto or home insurance. While it is a good idea to have liability insurance for your auto and home insurance policies, umbrella insurance is a separate type of liability that offers further protection. Most insurance companies require you to have a certain amount of liability insurance for your home and your vehicle before allowing you to get umbrella insurance.
One cool thing about umbrella insurance is if you get into a car accident that costs more than your auto liability insurance limit, your umbrella policy kicks in to cover the rest of the cost. Umbrella insurance works the same way as home insurance. If someone is jumping on your trampoline, your home insurance will cover up to a certain amount, and then your umbrella policy takes care of the rest, so you don’t have to.
How can umbrella insurance benefit you?
As mentioned above, there are a few benefits to umbrella insurance. When you get into a car accident, umbrella insurance covers the liability costs after the limits of your auto insurance run out. If someone gets injured on your property, your umbrella insurance covers what your home insurance doesn’t cover.
On top of extra coverage for your car and home, umbrella insurance covers other things that general liability coverage doesn’t, such as libel, slander, and defamation of character. If you have a trampoline, swimming pool, or any high-risk factors, umbrella insurance can give you peace of mind, knowing that you will be protected if someone were to sue you.
Contact Wichalonis Insurance Agency
Here at Wichalonis Insurance Agency, we will help you with your insurance needs in Cumming, GA.
Understanding insurance products and how they work is imperative to making good insurance choices. At Wichalonis Insurance Agency, serving Cumming, GA, and the surrounding areas, we are here to help educate you on these critical topics so that you can make solid insurance choices. Keep reading to find answers in the umbrella insurance FAQ.
What Is Umbrella Insurance?
Umbrella insurance is a unique insurance product. This type of policy can be added to your existing policies to provide an "umbrella" of coverage. This type of coverage kicks in to pay for any expenses you may still owe after the original policy has been exhausted. If you do not have umbrella coverage, the difference in these two amounts would have to come out of your pocket. This could pose a financial challenge.
Who Needs Umbrella Insurance?
Anyone can use this type of insurance product, but it is most beneficial for those who have a significant number of assets that they would like to protect. If you experience a large-scale claim event that exhausts your policies, your assets could be put at risk.
Umbrella insurance is also a good idea for any individual at a significant liability risk due to their hobbies, occupation, or other reasons.
What Policies Can Umbrella Insurance Be Added To?
An umbrella policy can be added to any existing policy. This can include auto, health, life, commercial, and others.
If you would like to learn more about umbrella insurance or any other services, don’t hesitate to contact us at Wichalonis Insurance Agency, serving Cumming, GA, and the surrounding areas. We will be happy to answer your questions and help you find the right insurance products for your needs.
When it comes to having an extra layer of protection and security on top of the regular insurance policies you may already have, umbrella insurance is the way to go. This type of insurance covers the policyholder and the policyholder’s family members and people living in their household. You can utilize this type of extra coverage along with your auto insurance policy, boat insurance policy, in even your commercial business insurance policy. The umbrella insurance agents at the Wichalonis Insurance Agency in Cumming, GA can assist you with all of your insurance needs.
If you own a home or a business, an umbrella insurance policy will cover liability claims over and beyond what your commercial business policy or homeowner’s insurance policy already covers. It can even add an extra layer of protection for rentals you may own.
For example, if you are a homeowner and someone slips and falls at your house, your homeowner’s insurance policy will pay for their injuries and possibly time off of work, however, if the person’s injuries are extensive, your umbrella insurance coverage will protect you from losing your home because it will pick up where your regular policy left off. Another example would be if you own a tree trimming business and a branch falls on a passerby. Your business insurance will cover the person’s injuries but if they decide to sue you, umbrella insurance will pay the extra amount that is owed.
Basically, an umbrella insurance policy provides you with not only extra insurance coverage to go along with the policies you already have, but it provides you with a greater sense of security and better Peace of Mind. In the type of world we live in today, it is a good idea to have an umbrella insurance policy in place.
If you are interested in starting an umbrella insurance policy to protect your assets, you should contact the umbrella insurance agents at the Wichalonis Insurance Agency in Cumming, GA for a quote and get your umbrella insurance policy started today.
Having proper liability insurance coverage is very important for people in the Cumming, GA area. For a lot of people, getting coverage from a home and auto insurance policy is a good start for liability protection. However, getting an umbrella policy could make a lot of sense for others. There are several situations when this coverage can protect you.
Gives Coverage for More Situations
One of the top reasons to get umbrella coverage is that it will give you coverage for situations that you may not already have liability protection for. For most people, home and auto insurance policies will provide liability coverage for the vast majority of realistic situations that could result in a claim. However, those that are in certain professions could be at risk for uncovered situations. Fortunately, an umbrella policy will give you coverage for these risks.
Provides Additional Liability Coverage
Another way your umbrella insurance policy can protect you is by providing additional liability coverage on top of your base policies. If you are involved in a severe accident and are found liable, there is always a small chance the damages could exceed your coverage from your home or auto policy. If this happens to you, the umbrella insurance policy will give you additional coverage to ensure you are protected.
Getting umbrella insurance can be a great form of personal liability protection. When you are thinking about getting this form of insurance, you should call the Wichalonis Insurance Agency. For those that are in the Cumming, GA area, the team at the Wichalonis Insurance Agency is an excellent source of information. These professionals can give you the guidance that you need to determine if umbrella insurance is right for you and your situation. Based on this, you can pick a policy.
We at Wichalonis Insurance Agency in Cumming, GA liken the umbrella insurance product as a great big umbrella opening up when the light rain shower that was predicted has turned into a downpour.
Life is creative so we strive to be creative to go along with it. Umbrella insurance is a product that can be used to cover all of the?’s in your life. Generally speaking, umbrella insurance goes into effect where standard insurance ends. For example, if you are covered for liability of up to $ 100,000, Umbrella insurance may cover you for liability in the amount of up to $1 million. It is that extra added layer of protection that you hope you will never need. Some individuals lead lifestyles or have vulnerabilities that dictate the sheer necessity of umbrella insurance. Certain vocations and financial brackets carry the need for this type of extra added protection.
What if’s are inevitable in this thing we call life. We just have to make certain that we’re making the best decision for our home business automobile and particular lifestyle. Leave the professional knowledge of insurance products to us, you have more important things to do. A simple conversation can clarify whether or not you can benefit from umbrella insurance
Speaking with a professional insurance agent about the details of your life, your possessions, your commercial properties, real estate that you may own-will give you a clearer understanding if you can benefit from umbrella insurance protection. This doesn’t have to be a “what if”. You can learn today by speaking with one of our agents.
Under the umbrella at Wichalonis Insurance Agency we also provide insurance products for the following; auto, home, boat/watercraft, condo, life, motorcycle, motorhome, renters and recreational vehicle. We endeavor diligently to ensure that you have the correct insurance product for your lifestyle needs. Contact us today. Our office is located in Cumming, GA. Come in today and we look forward to serving you.