Umbrella insurance is one type of insurance that confuses most people. They don’t know what it is and if it is worth having. At Great Southern Agency in Tomball, TX, we are independent insurance agents and we work for our clients, not for an insurance company. You can count on us explaining things to you so you have the information you need to make an educated decision.
What is umbrella insurance?
Umbrella insurance is excess liability insurance. It supplements other insurance policies that you have with liability coverage. Some of the policies that have liability are home, condo, renters, auto, boat, and motorcycle. In the event that you have to use your liability coverage, your primary policy will cover to its limit and then your umbrella policy will kick in.
Who needs umbrella insurance?
Almost everyone can benefit from umbrella insurance. Do you own a home? Do you have additional assets? Have you put aside some savings? Do you have a retirement account? Protecting all of these things is vital. What are the liability limits on your insurance policies? Will they leave you holding the bag in the event you need to use your liability protection? Once you have the answer to these questions, you should be able to determine if umbrella insurance is a good option for you.
Can I buy umbrella insurance without having other insurance?
No, you can’t. Umbrella insurance is not a stand-alone policy. It is additional liability coverage in addition to the liability coverage that you have on another policy.
Do only the rich benefit from umbrella insurance?
No, it doesn’t matter how many assets you have, if you want to protect them, umbrella insurance is an affordable option.
Call Great Southern Agency in Tomball, TX when you are ready to talk about how umbrella insurance might be right for you.