Many people don’t understand why they need umbrella insurance, especially when they have other coverages like car, home, and boat insurance. But do you know that these insurance policies may not cover you fully in the event of a significant catastrophe? Well, without umbrella insurance, you may be forced to pay thousands of dollars from your pocket to cover any extra cost beyond your typical liability coverages.
Since lawsuits can strike anytime, you need umbrella insurance all the time. Sump Insurance outlines the benefits associated with this insurance policy to help you understand why you need umbrella insurance all through the seasons.
Protects your assets
In the event of a significant accident or incidence that results in bodily injuries or property damages, your underlying primary insurances can easily get depleted, leaving you with the extra bill to pay. If the bill is enormous, you could jeopardize your assets as it would mean letting go of some of them to cover the cost. However, such occurrences are taken care of with umbrella insurance, leaving your income and assets intact.
Protects you from expensive lawsuits
Being sued today is more common than ever, not to mention how expensive it has become. If you have assets, host guests at your home, a public figure, or own a business, then know that you are prone to lawsuits. The good news is that umbrella insurance is there to protect you from any liability claim.
Provides additional coverages
Your other primary insurances do not cover occurrences like slander, libel, defamation, or wrongful arrest. But umbrella insurance provides broader coverage that keeps you protected throughout the seasons.
The fact that umbrella insurance kicks in when your other primary insurance gets depleted makes it extremely cheap. It’s one of the reasons you should have it all year-round.
Umbrella insurance in Clarinda, IA
You may need an umbrella during the rainy season only, but you should have umbrella insurance all year round because lawsuits don’t have an off-season. If you are in Clarinda, IA, shopping for umbrella insurance, look no further than Sump Insurance for an affordable quote.