You are a parent with a teenager who just got his driver’s license. At this point, you might be wondering how to keep yourself and your family protected. If this isn’t you, maybe you own a swimming pool, trampoline, or even a dog. These factors can have big risks for liability lawsuits. How can you protect your finances and assets? All-Tex Insurance can help you with an umbrella insurance policy in Granbury, TX.
What is umbrella insurance?
Umbrella insurance is an extra form of liability protection. It might be a wise idea to have umbrella insurance on top of your regular auto and home insurance policies if you have any risk factors.
Some of the things that can put you at higher risk of a lawsuit include:
- Swimming pools
- Teenage drivers
- High net worth
- Frequently hosting guests
How does umbrella insurance work?
Here’s how umbrella insurance works. Let’s say that you own a trampoline, and it attracts all of the neighborhood children. One of the neighbor’s kids falls off the trampoline and breaks their arm. The parents decide to sue you for the damage that the fall from the trampoline caused.
You would first use the limits of your home insurance coverage to pay for the legal costs to settle the lawsuit. If there are more costs left over after the limit has been reached, your umbrella policy will kick in to cover the rest of the cost. Because you had umbrella insurance, you did not have to pay the extra costs of the lawsuit out of your pocket.
Contact Us Today
Stop by or contact us at All-Tex Insurance to get umbrella insurance in Granbury, TX. We can answer any questions you have about umbrella insurance and give you a quote.