When it comes to umbrella insurance, it is not insurance to cover your umbrella. It is insurance to protect your assets. What exactly does that mean? It means when you have assets; you are at risk of being sued. It is just that simple. Being involved in legal action can cost a bundle of money. If you don’t have a lot of ready money, you could be forced to sell your assets or even have your wages assigned. At All-Tex Insurance in Granbury, TX, we have 20 years of experience helping customers find perfect insurance products.
Umbrella insurance is an additional layer of protection that goes into effect when your primary policy liability has reached its maximum. To purchase umbrella insurance, you must already have a policy with liability converge. You don’t need to be a homeowner. Renter’s insurance, auto insurance, boat, condo, and motorcycle insurance all have liability coverage. If you have commercial insurance, chances are you have liability coverage as well.
With your primary policy, you likely won’t have a very high level of liability protection. Every state has its own required minimum limit on auto liability. Most are $50,000 or less. That won’t go very far if you are in a serious accident and are at fault. If you haven’t checked it recently, you should check what you have for a limit on your liability coverage. Most umbrella policies start at one million dollars and go up from there. With legal cost and a judgment against you, this won’t seem like an outrageous insurance amount to carry at a very affordable rate. Basically, if you have any assets, you should buy umbrella insurance.
If you are ready to discuss umbrella insurance, All-Tex Insurance in Granbury, TX is here to help out. Contact us and let us give you a quote.