Nearly everyone has some insurance, from auto and homeowners’ policies to insurance for their business, but is it enough? If you want to ensure you and your investments are fully protected, you can achieve that by purchasing an extra policy called an umbrella insurance policy.
What Is Umbrella Insurance?
Umbrella insurance is a type of policy that provides an added layer of protection through extra insurance coverage that provides coverage beyond the limitations of your current coverage. From extra property insurance and auto crash injuries to several types of lawsuits that regular insurance policies may not cover, umbrella insurance offers the peace of mind you deserve and need. Umbrella insurance provides extra coverage and additional coverage options. It can even cover claims that involve slander, libel, a false arrest, and even more liability coverage for other things you may own, such as rental housing units or garages.
Types of Umbrella Insurance Coverage Options
Umbrella insurance will provide coverage for you and your family members if a lawsuit occurs. For example, a visitor to your home falls down the stairs and breaks their leg. Your homeowners’ insurance will help cover the person’s medical bills, but if they decide to sue you for additional compensation, your homeowners’ insurance may not be enough to cover a judgment against you. That is where an umbrella policy becomes very helpful as it can cover the lawsuit and resulting damages against you.
An umbrella policy will also cover you if someone sues you for defamation of character due to libel or slander. It can also cover the costs associated with false imprisonment, and if you are a landlord, an umbrella policy can assist in covering your liability as a landlord if a tenant files a lawsuit.
Get a Quote Today
To determine if you need umbrella insurance and create a policy that works best for you and your situation, call upon the umbrella insurance agents at Higgins & Halloran in Columbia, SC today for a quote and get your policy started.