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If your kids break a neighbor’s window or you inadvertently cause an auto accident, your home and auto insurance policies will likely cover the damages. However, a variety of situations aren’t covered by these policies, leaving you exposed to liability suits that could threaten everything you’ve built. That’s where umbrella insurance comes in, providing a wide range of benefits that protect every aspect of your life.

3 Benefits of Umbrella Coverage

1. It Covers Accidents That Exceed Your Limits

In most cases, you’re responsible for any damages you cause that exceed the limits of your insurance policy. Say you have $250,000 in liability protection on your auto insurance policy, but you cause a crash resulting in $400,000 worth of medical expenses. Normally, you’d have to pay the $150,000 difference out of your own pocket. If you have umbrella insurance, your carrier will take care of it for you.

2. It Will Pay for Accidents Other Policies Don’t Cover

umbrella insuranceSome situations are specifically excluded from homeowners, renters, and auto insurance policies, leaving you exposed to expensive lawsuits. For instance, if you own a rental property and your tenant’s dog bites a neighbor’s child, your umbrella insurance policy will pay for their medical bills when your other coverage won’t.

3. It Covers Much More Than Accidents

In today’s litigious society, you can find yourself facing lawsuits for much more than physical injuries and damages. Even a negative online review can result in a defamation lawsuit, which may cost tens of thousands of dollars even if you win. Umbrella insurance will take care of valid claims and cover any costs associated with your legal defense.


 

Since 1944, Hummel Insurance Services has been Southwest Iowa’s top resource for a wide range of insurance products, from business policies to auto coverage. Their team of highly trained agents will carefully evaluate your situation and find a policy perfectly suited to your needs. Follow their Facebook for tips and updates, and call (712) 482-6424 or visit their website to request a free umbrella insurance quote.

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