TWIA Insurance Agency invites you to imagine a picture: a wide, sturdy umbrella protecting you from a heavy downpour. That’s an accurate depiction of Umbrella Insurance, which is pretty much what the name suggests: an umbrella that protects you from, in this case, liability.
Potential liability issues are all around you. You never know what could cause someone to name you in a lawsuit. Your insurance policies, like you homeowner’s and auto, have liability coverage written into them, but they have limits. Depending on the lawsuit, you can reach those limits quickly. Umbrella Insurance policies pick up where those other policies leave off. So, when you have exceeded the liability coverage limits on an underlying insurance policy, you still have protection.
Often, the liability coverage within your current insurance policies will only cover property damage and bodily injury to other people. With an Umbrella policy from TWIA Insurance Agency, you can extend those limits; you get additional coverage for property damage and bodily injury, but you may also be covered for things that are not listed under typical liability allowances. Each insurance policy is different; what constitutes a covered liability issue with one policy may not be covered on a different one. Regardless, when these liability issues arise, and/or you exceed the amount of liability coverage for the events that are already allowed under your regular insurance policies, Umbrella Insurance kicks in and provides relief.
Don’t think you need umbrella insurance? Think carefully. If you are sued for something that happens at your home and the legal costs of the lawsuit greatly exceed the liability coverage defined by your homeowner's policy, what happens to you and your family assets? If you are at fault in a multi-car accident and your liability costs greatly exceed the limits on your car insurance, who pays? These instances may be rare, but they happen. You can’t be too careful. And, let’s be honest, the more you have, the more you have to lose.
You can typically purchase Umbrella Insurance at a low cost, but it will provide ample coverage that offers you peace of mind should excess liability costs present themselves in the future. For more information on umbrella policies contact TWIA Insurance Agency.
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