Most people inherently understand the need for quality home or auto insurance to protect their finances in the event of an accident or a liability issue. But for many, personal umbrella insurance should also be a top consideration. If you haven't heard of this type of coverage before, the guide below explains it in more depth.

What Is Personal Umbrella Insurance?

Umbrella insurance is a secondary liability policy that can be added to your existing coverage. This way, if you are found liable for another person’s bodily injury or damage to their property and the amount of recompense requested exceeds the maximum on your other insurance, your finances will still be protected. Umbrella coverage can also be applied to other types of claims not typically found under a normal insurance policy, such as libel and slander or if your actions lead to someone else's false arrest. Additionally, it can extend to those within your immediate household, should they be found at fault in an accident.

Who Needs Umbrella Insurance?

Umbrella coverage is especially useful to those who have significant assets. However, even those with less in the bank should consider these policies since sometimes, when you lose a lawsuit, the judge can require you to pay damages from your future income, impacting your earning ability for years. After spending so much time and hard work building your life, you don't want a single moment to up-end it all, making this policy invaluable for the peace of mind alone.

Navigating the world of insurance can be tricky—but Western States Insurance Group can cut through the technical jargon to help you find the coverage you need. We help individuals and business owners alike protect their finances from future trouble at affordable prices. To learn more about our services, visit us online. Or call (575) 396-1318 with questions or to schedule an appointment today.