Umbrella Insurance
Ensure all of Your Assets are Protected
Relying solely on liability coverage from auto, boat, or home insurance might seem adequate, but when confronted with substantial liability claims, standard coverage often falls short. Recognizing this gap, Jonathan Roberts Insurance Agency emphasizes the importance of umbrella insurance to bolster your liability protection. As this coverage remains unfamiliar to many, let's shed light on this policy.
Understanding Umbrella Insurance
Stepping in when underlying coverage limits are exhausted, umbrella insurance extends liability coverage. Consider a scenario where you're legally responsible for a major car accident resulting in injuries and damages to others. Once your car insurance liability coverage is depleted, umbrella insurance takes over.
What is Umbrella Insurance?
It's essential to understand that umbrella insurance is specifically for third-party liability, excluding coverage for you and your assets. In the context of a car accident, this policy addresses medical costs and property damage suffered by others. Your personal injuries and vehicle damages, however, remain within the purview of your car insurance.
Coverage Under Umbrella Insurance:
Who Benefits from Umbrella Insurance?
Dispelling the misconception that it's solely for the wealthy, umbrella insurance is suitable for anyone with assets to safeguard. Even if you aren't a high-net-worth individual, but possess assets requiring protection in potential lawsuits, this coverage is relevant.
Furthermore, if you fall into any of the following categories, securing umbrella insurance is highly recommended:
Business ownership
Chairing a charitable organization
Ownership of a high-risk pet, like a dog
Possession of a home, boat, or vehicle
Participation in high-risk activities such as archery
For tailored advice on umbrella insurance suited to your needs, reach out to one of our agents today.