If you have primary coverage such as auto, home or boat insurance, chances are you have come across the term umbrella insurance. But with these existing policies, why would you get extra coverage? Unlike other safeguards, umbrella insurance is designed to give you protection when unforeseen events lead to damage exceeding your primary policy. If you reside within Boca Raton, FL, this coverage will prove essential in protecting you from unexpected emergencies. Below, Coastal Premier Insurance Group discusses whether umbrella insurance is worth it.
Protects You Against Bodily Injury Liability
Suppose you cause an accident that results in expenses exceeding your auto insurance. In that case, umbrella insurance kicks in to cover the ensuing costs. These will often include injuries to other parties, helping you cover any 3rd party medical expenses. Your visitors can also get injured while visiting your home, resulting in significant hospital bills. If your home insurance can no longer cover these expenses, umbrella coverage will come in handy in helping you pay for these costs.
Covers Your Property Damage Costs
Just like bodily injury liability, your auto insurance will also likely get exhausted when you cause considerable damage to other parties’ property. If this happens, umbrella insurance sets in to pay for the repair or replacement expenses. If your guests’ property also gets damaged during a visit to your home, umbrella insurance will help you cover the costs needed to fix the damage caused.
Protects You From Other Personal Liability Claims
Some personal liability claims may not be covered by the underlying covers, requiring you to get extra coverage. Umbrella insurance helps you cover these claims, including libel, slander, malicious prosecution, and false arrest. If you are also sued for mental anguish, your umbrella policy ensures that your legal fees and damages are paid for. Individuals with rental units are also covered by this policy, helping you pay for any bodily injury sustained by visitors.
The above safeguards prove that umbrella insurance is a worthy cover to get, helping you keep your assets secure when you encounter emergencies. Consider giving Coastal Premier Insurance Group a call today to get umbrella insurance designed with Boca Raton, FL protection mechanisms in mind.