Umbrella insurance is an additional type of insurance that provides extra protection on top of other insurance types, such as auto or home insurance. Its mission is to fill the gaps that are left by other insurance policies. If you are thinking of getting umbrella insurance, here are the answers to the most common questions about it:
1. What does umbrella insurance typically cover?
Umbrella insurance typically protects a policyholder against several sources of possible damage. Firstly, it covers medical costs if someone is injured at your property. Secondly, it covers you if you are responsible for damage to someone else’s property. Lastly, umbrella insurance steps in if you are facing a lawsuit and covers all the legal costs.
2. Who needs umbrella insurance?
Anyone who owns a home, rents a house or apartment, or owns other valuable assets will definitely benefit from having umbrella insurance.
3. How much umbrella insurance should you get?
To answer this question, you should estimate the value of all your assets, including your home, investments, savings, and vehicles. You also need to take into account the limits of your other policies. This is a complex query, and it’s better to discuss it with an experienced insurance agent.
While umbrella insurance is not mandatory, meaning you don’t have to carry it, it’s a great source of additional protection that anyone can benefit from. If you still have questions about this insurance, feel free to contact Davidson Insurance Agency, serving clients in Evergreen, CO, and nearby areas. At Davidson Insurance Agency, we’re ready to answer all your questions and help you find the right policy. You’re welcome to visit our website or give us a call.
