Umbrella insurance is supplemental coverage that works in tandem with your existing home, business, or auto insurance policy to protect you against costs that could arise if you accidentally injure someone or damage their property. To help you better understand this coverage, Accredited Insurance Group, a trusted insurance agency in Omaha, NE, with over 25 years of experience, explains below what umbrella insurance is, how it works, and why you might need it.

What Is Umbrella Insurance?

Umbrella insurance is a type of liability coverage that extends the coverage you get from your home, auto, or business insurance. It typically raises your coverage limit to a million dollars or more and covers certain scenarios your basic policy excludes. For instance, if your homeowner’s coverage excludes liability coverage for bites by dogs of certain breeds and your dog–one of the excluded breeds–bites someone, you will be liable for the entire amount of medical treatment and any legal fees unless you have an umbrella policy that fills the gap.

Why Would You Need Umbrella Insurance?

The cost of medical care for even one individual can be astronomical if the injuries are serious. Add the cost of defending yourself in a legal action arising out of the incident, and the expenses could be catastrophic. A single automobile accident could devastate your current finances and tie up your future assets for years or even decades. Umbrella insurance, by raising your liability coverage limits from $200,000 or $300,000 to $1 million or more, gives you security and peace of mind that a single, unfortunate accident won't ruin you financially.

Umbrella insurance provides extra security beyond a traditional auto, business, or home insurance policy to protect your assets and family's financial future. To discuss your options with an experienced agent, contact Accredited Insurance Group in Omaha, NE. They are a full-service, independent insurance agency and have helped residents and businesses throughout Douglas County and beyond for more than 25 years. For directions and business hours, check out their Facebook page or call (402) 334-1780 to request an insurance quote.