Anyone can benefit from umbrella insurance and you will be surprised how affordable it is, especially considering the level of protection it provides. You can buy umbrella insurance for yourself and for your business as long as you get separate policies.
Umbrella insurance acts like an umbrella over all your assets, including your property and automobiles. Most umbrella insurance policies are sold in increments of $1 million, which is obviously a great deal of protection. At Toney Insurance Services, we help our Snellville, GA clients reach the level of protection they feel comfortable with.
How Umbrella Insurance Works
You already have multiple policies to protect your home, your vehicle, and possibly your business. All of your policies have limits on how much they will pay out if there is an incident. After your policy reaches its maximum limit, you are responsible for paying the rest of the claim.
For instance, you could be in an auto accident where multiple people have serious injuries. If you only have the minimum required insurance, that coverage will run out quickly. Umbrella insurance will kick in once you reach those maximum limits. That means that you can only have an umbrella policy if you have an underlying insurance policy.
Umbrella insurance will help cover the expenses for property damage, medical expenses, and any associated lawsuits.
Other Protections Your Umbrella Policy Provides
Umbrella insurance also offers protections other insurance does not. Most insurance will not help you if you are accused of false arrest, slander, or libel. Your umbrella policy may also add to your liability protection on your rental property.
You can better protect your family and your business in Snellville, GA if you add umbrella insurance. Call Toney Insurance Services today so we can help you explore your options.
