Umbrella insurance is additional liability coverage to protect your biggest assets. The greater the value of your assets, the more you have to lose when an accident occurs. All it takes is for someone to get injured on your property and everything you’ve worked so hard for is at risk.
You buy home and auto insurance to cover the costs of damage in case of an accident. The liability limits are the maximum amount that these policies pay for a covered incident. That means that a limit of $10,000 on an auto policy won’t pay to replace a $40,000 car. That’s where a personal umbrella insurance policy comes in.
More than 400,000 personal injury claims are filed in this country annually. The majority of personal injuries occur due to auto accidents, but other types are slips and falls on private or commercial property, animal bites, and other situations based on negligence. If you are at fault for a personal injury, you could be liable for extensive medical bills, pain and suffering, and other damages.
Personal umbrella insurance gives you peace of mind when the unexpected happens to you. When you don’t have adequate insurance, you become liable for paying any damages awarded to the accident victim. The right insurance coverage can take away the worry that you could lose your home, business, and savings.
Anyone with high-value assets needs umbrella coverage to cover the entire value of their possessions. Umbrella coverage is available up to $5 million to fill those big gaps that you have in your standard insurance policies.
You don’t have to be wealthy to benefit from additional liability coverage. Anyone who owns a vehicle or condo is vulnerable to liability claims and needs the range of coverage to protect them. Those who own sporting vehicles, RVs, boats, and motorcycles are at an even greater risk. Coverage is also available for assets not covered under auto and home insurance policies.
Personal umbrella insurance helps protect your home but it doesn’t stop there. Your coverage also extends worldwide to protect you wherever you travel. It also pays for attorney’s fees and other legal costs so you aren’t left with the bills for defending yourself.
Call Colorado Prestige Insurance Group at 303-659-4744 and see how affordable protecting your assets can be. Get the coverage you need to get peace of mind and stay focused on what’s really important to you.