Life continues to get more complex; as it does, so does the chance of being held liable for another person’s injury. Honest accidents happen every day in Texas; however, with rising medical costs, lawsuit numbers have increased as well. As a result, umbrella personal insurance has become an important supplement to other insurance coverage. Although not everyone may need umbrella coverage, for those who do, a policy provided by an experienced personal umbrella insurance provider could make the difference between having enough liability coverage and facing a lawsuit.

What Is Umbrella Liability Insurance?

Umbrella liability insurance is additional liability coverage that anyone can purchase to cover them in case other liability insurance falls short or does not apply. It provides benefits when another liability policy has reached its limits, yet claims against the insured are higher than such limits.

What Does Umbrella Liability Insurance Cover?

An umbrella liability policy is personal insurance that covers for liability after other applicable and primary policies are exhausted. Umbrella policies also provide added coverage for legal defense and may cover some lawsuits and claims that other policies would deny. Because it provides expanded coverage, umbrella insurance should provide coverage for things that other liability insurance covers in addition to other more specific, personal life activities. Umbrella policies do have exclusions; if necessary, those should be covered under a rider.

Who Needs Umbrella Liability Insurance?

Considering how easy it is to face a lawsuit today, personal insurance that includes umbrella coverage is highly recommended for anyone with a greater liability risk, with assets to protect, who is expecting an inheritance, or otherwise has a substantial income or the potential to earn one. For a small fee each year, individuals gain protection that could prevent the loss of valuable assets should they be found liable for someone else’s injury. Unfortunately, liability protection provided by most auto and home policies is not enough in many cases.  So supplementing with an umbrella policy from a personal umbrella insurance provider is recommended.

Buying Umbrella Liability Insurance

Umbrella insurance can be purchased as a standalone policy or as a rider on other insurance policies. In either case, it is important to note that this additional coverage is only available to those who are already covered by higher liability limits on their auto, home, and other insurance policies. At this point, additional coverage can usually be purchased in one million dollar increments. It is important to note that applicants can be turned down for this umbrella insurance based on previous claims, a poor driving record, a home residence that is in poor condition, and other reasons that suggest that an applicant is a poor risk.

Many times people may worry that they do not have enough liability insurance for the perils that life can bring. For those concerned that their personal insurance may not be sufficient, adding umbrella liability insurance can help. To learn more about this type of insurance coverage, contact a knowledgeable personal umbrella insurance provider and find out how umbrella liability insurance can protect  your important assets!

Looking For Umbrella Insurance In College Station Texas?

See Jones & Associates For Personal Insurance Coverage!

Call Them At (979) 599-7532!

Additional Articles:

Looking at Complete Personal Insurance to Protect Your Family!

The 3 Kinds of Insurance Every Small Business Needs!

Understanding the Business Need for Commercial General Liability Insurance!

Be Merry and Bright - But Don't Drive New Year's Eve!

Have You Prepared Your Resume For the New Year?