Accidentally injuring someone else can be financially devastating. Fortunately, your auto, home, and business insurance policies contain liability coverage, which will pay for the victim's damages, as well as your own legal fees. But what if the damages exceed the limits of these policies? In these instances, an umbrella insurance policy can provide the additional coverage you need.
With your other insurance policies, the insurer will only pay the coverage limit, no matter how excessive the actual damages may be. For instance, if your auto insurance only has $25,000 in liability coverage, and you cause a collision resulting in $50,000 in medical bills, you would likely be held legally responsible for the extra $25,000. If the victim succeeds in pursuing a judgment against you, the outcome could be financially devastating, unless you have an umbrella insurance policy.
Umbrella insurance is extra liability coverage that kicks in when your other policy limits have been exhausted. For example, if you had a $100,000 umbrella insurance policy in the previous example, it would pay for anything left over after the auto policy paid its $25,000.
Unlike other insurance policies, umbrella coverage isn't limited to specific circumstances. In addition to auto accident injuries, it will also pay for property damage, injuries suffered by visitors to your property, and a wide variety of other situations. If you're sued for libel, slander, or false imprisonment, your umbrella insurance policy will protect your assets and the future of your family.
For over 45 years, Craig Massee Insurance Agency has been one of the premier insurance offices in Milledgeville, GA. As an independent agency, they work with a variety of the industry's leading carriers, giving them a range of products and policies to choose from. Visit their website to see their full list of services now or keep up with them on Facebook. To make an appointment, call (478) 452-3539.