Umbrella insurance serves to provide additional coverages where needed. In specific cases, a standard policy won’t cover everything necessary – that’s where an umbrella policy comes in.
Insurance is an everyday facet of life; we all need some form of protection. There are different iterations of insurance available such as auto, homeowner’s, and renter’s insurance.
There are some situations where you need something more, perhaps you’re in a line of work that’s very litigious, or you reside in an area where calamities happen more than usual. For situations like this, umbrella insurance is the way to go.
What is umbrella insurance and how can it work for me?
Umbrella insurance is coverage that protects you in the case of damages exceeding your liability limit on your policy. This can be used in tandem with almost any kind of insurance policy with a liability limit. Let’s say that you’re at fault for a car accident and the other party is an Accountant who makes great money. The accident puts him out of work for a year, so he takes you to court because your liability limit only covers him for three months of work.
Under normal circumstances, you would be liable for the remaining money that he’s seeking and would have to remit that payment. But with an umbrella insurance policy, that policy could cover the remaining amount of money owed to him. An umbrella insurance policy is extra protection and peace of mind in the unlikely scenario of facing a bigger payout in an accident.
In the state of Nevada, Family Insurance can handle all of your insurance needs and also offers umbrella insurance policies. We can provide coverage and protection for all sorts of possible scenarios and also offer reasonable monthly premium rates.
Contact an agent at Family Insurance today and get all of your Nevada insurance needs and questions answered by a professional with many years of experience in the industry.