Umbrella insurance is aptly named because it can save you on a rainy day. Unfortunately, most people aren’t familiar with umbrella insurance. And those that have heard of it don’t know how umbrella insurance can protect their assets. Well, you can now rest easy because McCrary Insurance Agency, serving areas within Texas, is here to dissect umbrella insurance to its basics.
Umbrella insurance is the extra liability protection that protects you when your current liability coverages run out. Yes, you may already have a boat, home, or auto insurance, but they may not protect you adequately when faced with substantial claims. Simply put, umbrella insurance picks up from where other insurance policies leave off.
What does umbrella insurance cover?
Umbrella insurance doesn’t exist on its own. It rides on other insurance plans like a boat, home, auto, or business insurance. To note, umbrella insurance doesn’t cover injuries to you or property damage to your assets. It’s designed to protect third parties.
Umbrella insurance covers the below areas:
Umbrella insurance won’t cover intentional or criminal acts, business losses, and liabilities for dishonoring contracts.
The truth is that anyone can be faced with lawsuits. However, if you are in the below categories, there is a need to consider umbrella insurance seriously as the chances of being sued are high.
Do you need more information on umbrella insurance? Please contact McCrary Insurance Agency for more insights. Our friendly team will answer all the questions you might have.
