Umbrella insurance is a form of coverage that a lot of people don’t understand. Many believe this type of insurance is only for the wealthy, but in all actuality, it’s quite affordable for anyone when shopping through the right insurance provider, like the Coastal Premier Insurance Group serving the Boca Raton, FL area. This type of insurance delivers an extra level of protection for the policyholder and his or her family in regards to their property, medical expenses, and legal costs, but it only applies once an auto or home policy has been exhausted. Here is a close look at three reasons you need umbrella coverage.
Protecting Your Assets
If you were to have guests at your home and one of them becomes injured, there is a chance that you could be held liable for their medical expenses, and possibly even other damages. Your homeowner’s policy will, of course, cover up to a certain amount, but if the damages exceed this amount, an umbrella policy could kick in and help provide coverage for the remaining damages, so you don’t have to sell any assets.
Giving You Peace of Mind
There’s nothing better than being able to lay your head down at night knowing you have extra coverage. Regardless of what happens in the future, having an umbrella policy will almost always be of benefit.
Saving You Money
Not only can having an umbrella insurance policy save you money by providing the additional coverage you need beyond your regular auto and homeowner’s policy, but it can also save you money, many times, when you purchase it through the same provider, you have your other policies through. Many providers will offer a steep discount on your policy premiums if you bundle all of your policies together.
If you would like to learn more about protecting your future with umbrella insurance, contact the Coastal Premier Insurance Group serving the Boca Raton, FL area.