Many consumers rush to insure their automobiles, homes and boats. Few, however, realize that standard insurance may not be enough to protect against lawsuits. In a world where costs are steadily rising, it is possible to find yourself in a financial bind because you lacked the coverage necessary to fully shield you from loss caused by accidents. The good news is that there are independent insurance agents who are ready to help.What is umbrella insurance?
You can consider umbrella insurance as your extra cushion. The additional coverage protects you from financial liability when standard insurance policies are exhausted.Why would I need this? I already have insurance.
All standard insurance policies have maximum limits. Your indemnity company will cover incidents up to the amount of which you are safeguarded. If, for instance, you have an at-fault automobile accident that costs $40,000 in damages but your policy limits cap at $25,000, the insurance company will cover $25,000 of the $40,000 in damages. The remaining $15,000 is your responsibility. You may find yourself at the forefront of a lawsuit if the remaining amount is another person's medical bills and you cannot pay.
Such is the reason for umbrella insurance. Ammon, Idaho umbrella insurance agents can work with you to make certain that you will be fully protected in the instance of the cost of an incident outweighing your policy's limits.How can an umbrella policy help a homeowner like me?
You probably have homeowner's insurance that covers the basics. What happens, however, when a child falls while playing in your backyard and the parents want restitution for funds spent on medical bills? Your standard policy may not cover the incident and you will be left to either pay in full or work out a monthly payment plan with the parents.
Umbrella insurance serves as your backup in these instances by providing payment to the victims without you having to go into your savings to satisfy the debt.How can I learn more?
Insure It All has independent insurance agents in Ammon who offer policies for customers throughout the United States. We service all of: Idaho, Washington, California, Nevada, Arizona, and Colorado. We also offer policies for the East Coast along with Southern and Mid-Western states. Request more information at our website or stop in the office today to see what we can do for you.