Your primary insurance policies may offer protection for bodily injuries and property damage when an emergency comes up, but what happens when the coverage is exhausted? Umbrella coverage picks up from here, acting as supplemental insurance for your underlying policies. To get a brief overview of what to expect, read on to find out how Ambassador Insurance Midwest can help you.
Explaining Umbrella Insurance
Umbrella insurance refers to a type of policy that covers you when your liability claims exceed your primary auto and homeowner’s policy. Besides offering you protection, it also covers family members such as your partners and children when they need it. Unlike other policies, umbrella insurance protects policyholders when traveling, making it a portable coverage.
What Does It Cover?
If you find yourself in an accident and someone gets injured, your auto insurance will provide coverage only to a certain limit. To help you offset the medical expenses, umbrella insurance will pay for the extra costs, sparing you any additional financial burden. Bodily injury coverage also extends to when someone is injured on your property, helping you take care of any medical costs.
This policy also covers property damage caused by you or any of your family members. This often works when you are involved in an accident or when your dependents cause property damage when visiting another party’s premises.
Accidents can happen at any time of day or night, exposing you to risks that you may not plan. If your child gets into an accident or your pets harm your neighbors, the injured parties may file a lawsuit, requiring you to get legal representation. If your primary policies do not cover such expenses or get exhausted after paying for property damage and injury claims, umbrella insurance will be your best bet. It takes care of attorney fees and other legal costs arising from your lawsuits.
Other instances where umbrella insurance will cover your legal fees and other damages awarded include libel claims, slander, and false imprisonment.
For more information on umbrella insurance, contact Ambassador Insurance Midwest for policies designed to protect you and your loved ones.