Umbrella Liability Insurance
Make sure you’re covered, no matter what life throws your way. We’ll help you set up an umbrella policy to back up your existing insurance.
Rest Easy With Umbrella Insurance
A good insurance policy gives the policy holder peace of mind. That peace of mind comes from knowing that if some type of incident causes damage to someone or their property, or if an accident occurs and YOU are determined to be liable, your financial responsibilities will be covered.
It is not always guaranteed, however, that an insurance policy will cover all costs that arise from an incident. An auto accident, for instance, that results in catastrophic property damage and severe injury to drivers could add up to huge costs beyond what the insurance policy covers. There are also some factors that may disqualify an incident from being covered under certain insurance policies, leaving the individual responsible for all of those costs.
An umbrella insurance policy gives additional peace of mind that whatever happens, the policy holder will be covered financially and will not need to worry about paying out of pocket. This policy comes into effect after a standard insurance policy has been applied, and if there are additional costs not covered by that policy, the umbrella insurance takes care of the rest.
Who Needs An Umbrella Policy?
An umbrella insurance policy for a business or an individual is a great idea in many different contexts, but there are a few situations that are ideal for this product in particular.
- High net worth individuals and businesses. The more assets there are in place, the more important it is to protect them. An umbrella policy typically has a very low cost in comparison to its coverage amounts, so it is a “no-brainer” for those who need to protect very large amounts of personal capital in the event of a costly accident, or even a lawsuit accompanied by heavy legal fees.
- High risk factors. A homeowner with a pool or other features considered high risk by insurance companies may not be able to get adequate coverage for a reasonable cost by way of a traditional insurance policy.
Ask Us More About an Umbrella Policy
Your agent at Priority Insurance in Greenville, SC can help you understand more about how umbrella liability insurance for a business or private individual works. If your current insurance policies leave you vulnerable in certain potentialities, we’ll work with you to design a plan that ensures you will be covered, no matter what happens. Get in touch with us today to discuss your needs and get additional peace of mind.
Contact us to learn more about the right umbrella insurance for you.
How Does An Umbrella Policy Work?
Get a quote for umbrella liability insurance
FAQs
Does an umbrella policy cover the things that my homeowner’s insurance policy excludes?
Only with liability claims. Some risk factors may disqualify portions of your property from being insured under your regular policy’s liability coverage. An umbrella liability policy can offer a more affordable way to get the coverage a homeowner needs.
Why can’t I just get all the coverage I need under one policy?
Most insurance policies are specific–they cover your home, your car, your health, or another relatively narrow area. An umbrella liability insurance policy is a great way to make sure that when one of those policies reaches its limit, the rest of your costs may still be covered.