What You Should Know about Umbrella Insurance

Umbrella insurance has much to offer in the way of liability protection. By learning more about personal umbrella coverage, you can get a better idea of how it can be of benefit to you. Here are some of the most important facts you should know about umbrella insurance coverage.

  1. Umbrella insurance isn’t “stand-alone” coverage. This means you can’t buy umbrella insurance unless you already have primary liability coverage from another source such as home, auto, condo, or boat insurance policies. You can, however, obtain a personal umbrella insurance policy from Premier Insurance Advisors in Hilton Head Island, SC on top of your primary liability insurance coverage.
  2. Umbrella insurance gives you extra liability protection above the limits of other insurance policies. If, for example, your liability limits on your auto insurance are $50,000 and you face a liability claim above this amount, your umbrella coverage will pay for the remaining costs. This saves you from having to dip into your savings or retirement funds to cover these expenses.
  3. If you’re held liable for an accident in your home, place of business or on the road and are sued for damages, umbrella insurance will help cover lawsuit and settlement costs. Umbrella coverage can protect your valuable investments as well as current and future earnings from lawsuits, so you don’t suffer financial loss.
  4. Umbrella coverage starts once the limits of your primary liability coverage are exhausted. This gives you and your family an extra layer of liability protection against unforeseen accidents or disasters that may arise.
  5. You can choose the amount of umbrella insurance protection you need to safeguard your financial future.

For more information about how you can obtain a personal umbrella insurance policy at a reasonable price, contact us at Premier Insurance Advisors in Hilton Head Island, SC.