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549 E. Sandy Lake Road
Suite 100
Coppell, TX 75019

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Texas Insurance Blog

Is umbrella insurance only for the wealthy?

Umbrella insurance is the most misunderstood insurance of all. One of the myths is that it is only for the wealthy. At David King Insurance Services LLC in Coppell, TX, we are here to dispel myths and to help our customers to understand the benefits of all types of insurance, including umbrella insurance.  Since 1992, we have made sure that our customers get the personalized advice and products that they require. 

Is umbrella insurance only for the wealthy?

To understand how umbrella insurance can benefit you even if you are not wealthy, you need to understand what umbrella insurance actually is. Umbrella insurance is excess liability protection. It is not a policy that stands alone. It is a policy that supplements an insurance policy that you already own. Furthermore, there must be an insurance policy with liability coverage, which many policies do have. 

Some of the types of insurance that have liability coverage are auto, home, renters, condo, boat, classic car, RV, and motorcycle. What umbrella insurance does is that it adds another layer of protection. Your primary policy will pay out to the limit on your policy and then the umbrella policy will kick in. It will help to cover medical expenses, a judgment against you, and also for legal expenses incurred.

If you don’t have umbrella insurance, if you are sued or need to pay a lot of medical bills for someone you have injured,  once you reach your policy limit, you are personally responsible for the remainder. If you have any assets, they could be attached as well as your current and any future income. It could affect you for years to come and not in a good way. It just isn’t worth the risk when umbrella insurance is very affordable. 

Give Us A Call

Contact David King Insurance Services LLC in Coppell, TX with any questions you have about umbrella insurance and how it can benefit you. 


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