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Umbrella insurance protects you in case of a lawsuit after an event that occurs at your home, in your car, or as a result of something you do. This widespread type of coverage is a wise investment for some people. Understand more of what it will cover and who it benefits most to decide whether it’s time to sign up for a policy of your own.

A Brief Guide to Umbrella Insurance

What It Covers

The umbrella liability coverage protects you if you are sued in the wake of unforeseeable events that caused property damage or injury. It will usually take over when your coverage from other insurance has already been used. For example, if you are hosting guests at your home and someone trips and falls down the stairs, your homeowners insurance will likely cover their medical bills. However, if your coverage limits are met, then the umbrella policy will take effect and cover the remaining amount you are sued for. 

umbrella insuranceIt will also take effect immediately if an incident occurs and you do not have an applicable policy. For example, if you ski into someone on the slopes and injure them, the policy will protect you if they sue you. It will cover your legal expenses and protect you if you lose the lawsuit. If you win the lawsuit, it will still cover your legal fees.

When to Consider It

These affordable secondary policies are best for people who are considered at risk for an incident they could be held accountable for. While this could happen to anyone, some factors may make it more likely. This includes parents, people with dogs or horses, anyone who owns a boat, and those who coach youth sports, volunteer, or often host houseguests or tenants. It is also recommended if you own a car, home, or recreational vehicle. The policy also protects against libel and slander lawsuits, so it’s recommended for journalists and anyone whose job entails discussing other people and businesses.

 

Hazard Insurance Group offers affordable umbrella insurance to ensure you’re always protected in Perry County, KY, and the surrounding areas. This reliable insurance company will guide you through all your options and find the right solutions for you. They partner with multiple providers to always find the best rate and options. Learn more on their website, and call (606) 436-3165 to request a quote.

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