If you have liability coverage in your home or boat insurance, you might think it’s sufficient until you are faced with a significant liability claim. In such incidences, your typical liability policies will likely run out, putting your assets and future earnings at stake. When faced with a significant lawsuit or liability claim, you will be glad you have umbrella insurance from Guardian Insurance. This insurance policy takes over from where your underlying liability coverage leaves off.
Want to learn more about umbrella insurance? Keep scrolling.
What is umbrella insurance?
Because of its name “umbrella,” most people think that umbrella insurance comprehensively protects them against all risks. The reality, however, is that umbrella insurance is liability coverage and only protects you when accused by others. Umbrella insurance takes over when your underlying liability insurance has been exhausted.
Something else to note is that umbrella insurance doesn’t exist as a stand-alone policy. It rides on other insurance policies, such as a boat, home, or car insurance. Because of this unique feature, you will find out that umbrella insurance is super-affordable, despite its high and broad coverage.
Who needs umbrella insurance?
Is umbrella insurance only for the super-wealthy? In a word, no! If you have assets that need protection and your liability insurance isn’t adequate, you need umbrella insurance. Plus, if you are at risk of being sued, you need to think about umbrella insurance. In summary, you may need umbrella insurance if you:
- Own a vehicle, home, or boat
- Have a business
- Chair a charitable organization
- Own a rental home
- Participate in activities such as skiing and archery, which can cause injury to others
- Coach youth or kids’ sports
- Share controversial remarks on social media and other digital spaces
- Own a dangerous pet that can bite or cause harm to others
Do you want to invest in umbrella insurance? Guardian Insurance has got you covered. We serve Nebraska, Iowa, South Dakota, Arizona, Florida, Missouri, Kansas, and Colorado. Please call, email, or visit our Omaha, NE office for an affordable quote.