Who Needs Umbrella Insurance?
If you live in Coppell, TX, you get to enjoy all the area has to offer, and you may think, as many do, that you never want to live anywhere else. But sometimes bad things happen even in Coppell, TX, and you may be wondering if you and your family have enough protection in case of a small or large disaster.
At The Select Insurance Agency, we assist both businesses and individuals in finding umbrella insurance policies that can provide that peace of mind.
What Is an Umbrella Policy?
An umbrella policy is basically extra liability coverage that goes far beyond that of a traditional policy. Even though umbrella insurance is surprisingly inexpensive, it can offer a great deal of protection. Umbrella policies usually start out with a one million dollar limit.
That may seem like a lot, but you would be grateful to have it when you did need it. Your umbrella policy won’t kick in until your traditional policy has hit its limit, and your umbrella policy starts paying to immediately bridge that coverage.
How Umbrella Insurance Helps
So, for instance, say that you are in an automobile accident and it is determined that you were at fault. There were only two vehicles involved, but the other driver’s brand new car was totaled and the passenger spent a month recovering in the hospital.
Typical auto insurance policy limits won’t come close to covering that amount of property damage and injury. If you have an umbrella policy, though, it will kick in and start paying out when you max out.
Paying for even one small disaster out of pocket could cause a great deal of financial hardship, but you can save yourself the worry if you know you have umbrella insurance. If you have any questions about umbrella insurance or if you just want to discuss your current policies, please feel free to call The Select Insurance Agency today.