You may have a sizable retirement account, a house you own, and a car that is fully paid off, but it’s also important to have an insurance policy in place to protect them. Umbrella insurance is designed to cover your valuable assets if you are involved in an accident or sued for a large amount of money. Below, the team at Grachek Insurance in Kalispell, MT, discusses how a personal umbrella policy protects you.

A Guide to Umbrella Insurance

What Is Personal Umbrella Insurance?

Personal umbrella insurance is designed to protect you from major claims and lawsuits, safeguarding your assets and your future. It helps pay what you owe if you’re sued for damages that exceed the liability limits on your home, renters, or auto insurance. It also provides coverage for claims that other liability policies may exclude, such as libel, slander, and false arrest.

Why Should I Purchase Umbrella Insurance?

Although umbrella insurance is not required, you can benefit from having this type of policy, especially if you have significant assets or income. A large lawsuit and medical bills can cost all the money you have worked so hard to save and may affect your earnings in the future. It could take years to pay off the debt resulting from an accident in a vehicle or on your property. Umbrella insurance provides peace of mind knowing that your assets are fully protected.

A reputable independent insurance agency can offer a variety of umbrella policies specifically designed to fit your needs. The agents at Grachek Insurance can help you find the best price on a policy from a reliable provider. Call (406) 755-4000 to speak to a Flathead Valley insurance agent about their umbrella and renter’s insurance policies. You can also visit them online to learn more about the auto insurance policies they offer.