Being held liable for an accident can be a financial disaster, threatening your home, your savings, and everything you’ve worked so hard to achieve. While both your auto and home insurance policies provide some amount of liability coverage for any damages you or a family member might accidentally cause, their protections may not cover every situation. An umbrella insurance policy extends this coverage, providing enhanced protection across almost any situation.
3 Benefits of Umbrella Insurance
1. Protection Beyond Your Policy Limits
Auto and home insurance liability protection will pay for a victim’s injuries if you’re found legally responsible, but what if the damages exceed your coverage limits? Unfortunately, you could be paying for these losses out of your own pocket after your liability coverage is exhausted, which could drain your savings and even force you into bankruptcy. An umbrella insurance policy will cover any costs over the limits set by your other policies, providing enhanced protection for all of your assets.
2. Coverage for Accidents Not Covered by Other Policies
Some accidents are specifically excluded from your car and home insurance policies, leaving you vulnerable to liability suits if an accident does occur. Umbrella insurance covers a much wider range of circumstances, including many situations that may not be included in your other policies.
3. Payment for Legal Fees
In addition to covering the value of valid claims, umbrella insurance will also pay the cost of defending yourself against spurious lawsuits. Otherwise, you may have to face crushing attorney’s fees, even if you’re ultimately not liable for the accident.
Since 1960, the professionals at Kramer-Myers & Werring-Dickerson Insurance have provided clients throughout Batavia and Blanchester, OH with high-quality policies and insurance from your point of view. With a wide selection of umbrella, auto, and home insurance policies from some of the leading carriers, they’ll be able to find a product ideally suited to minimize risk and protect what’s most important to you. To talk with an agent and request a free quote, visit their website now or call (513) 732-1461.