It’s called umbrella insurance because it covers everything. Your homeowners’ insurance, car insurance, and other policies have their limits. If there’s any spillover, umbrella insurance can cover that as well. Keep in mind that umbrella insurance is not completely identical to excess liability insurance. Where excess liability insurance provides you with higher limits on the liability coverage you already possess, many umbrella insurances give more coverage that your base insurance policies don’t include as well.
How Umbrella Insurance Works
Umbrella insurance can cover your legal fees if you are taken to court for slander, libel or personal attacks. If you are liable for damages that exceed what you are covered within liability coverage, umbrella insurance can take care of the excess. Umbrella insurance is good for taking care of lawsuits or claims such as false imprisonment, defamation, landlord liability, property damage, and cause of injury.
Do You Need Umbrella Insurance?
Do you own property? Is there anything dangerous on your property? Is someone in your household an inexperienced driver? Are you a landlord? A public figure? Do you host a lot of parties? If so, the answer is probably "yes".
The Limits of Umbrella Insurance
Even umbrella insurance has its limits. It won’t cover your own injuries or damage to personal belongings. If you did something to break the law or breach a contract, you’re pretty much on your own. If you’re completely responsible for something, it’s on you.
David King Insurance Services LLC Serving Coppell TX
If you think umbrella insurance sounds like something you need, and you live in the Coppell, TX area, reach out to us at David King Insurance Services LLC. Our knowledgeable agents will help you through the process and see that you have everything you need.
Those that are living in or around the Coppell, TX area should always ensure they are supported by proper personal insurance policies and plans. One type of insurance all people here need to get is umbrella insurance, which is a personal liability plan.
There are many different situations when it can be helpful to get this coverage:
When you Want Broad Coverage
The first situation when it would be a good idea to get an umbrella insurance plan is when you want to have broad coverage. If you have home or auto coverage, you will have some liability insurance. However, these policies are somewhat limited regarding the situations they will cover. If you have an umbrella insurance policy, you will have broader support that can protect you in various scenarios.
Support for Sizable Claim
It is also a good idea to get an umbrella insurance plan so you can receive support for sizable claims. There will always be a chance that a liability claim fits under your home or auto plan but exceeds the coverage amount. If this happens, you will benefit from having an umbrella insurance plan as it will give coverage once you have exhausted the support in your base plans.
Contact Us Today
If you are in or around the Coppell TX area, you should confirm that you are offsetting your various personal liability risks. One great way that you can do this is by getting an umbrella insurance plan. When you are looking for this coverage here, you can call our team at David King Insurance Services LLC to learn more. When you call us at David King Insurance Services LLC, you can receive the personalized support that you need to build an ideal policy for your situation.
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.
David King Insurance Services LLC serves the Coppell, TX community. We offer our clients multiple types of coverage. We work with our clients to help them protect their assets in any scenario. Life may throw unexpected curveballs your way. That’s why it’s important to have insurance that you can rely on.
Why Texas Business Owners Need Umbrella Insurance
It’s hard to predict the future. One mistake could change everything. Working hard to gain assets just for one mistake to put everything you’ve worked for in jeopardy can be heartbreaking. Umbrella insurance was created to protect you in these situations. The policy is an extra layer of protection that you can rely on when your liability limits have been reached. Umbrella insurance can prevent you from possibly losing everything during litigation.
Umbrella insurance is especially beneficial if you are a Coppell, TX business owner. Operating a business exposes you to multiple risks. Perhaps one of your clients suffers an injury while they are visiting your property. If the injury is severe enough, they could pursue legal action. Perhaps one of your employees is driving a commercial vehicle, and they are involved in an accident. Footage shows that your employee is responsible for the injuries and damages because they were driving recklessly. That puts your business at risk. Perhaps one of your employees alleges misconduct in the workplace. Umbrella insurance is a safety net while you handle the allegations.
Starting a business is a significant investment. Umbrella insurance helps ensure that your life’s work isn’t at risk if you don’t have enough liability coverage.
David King Insurance Services LLC Will Help You Protect Your Investment
Visit our website to learn more information about umbrella insurance.
Umbrella insurance policies are designed to help a variety of businesses and individuals thrive. But are they right for restaurants? We at David King Insurance Services LLC can help you understand these facets and give your Coppell, TX restaurant the coverage that it needs to stay strong and secure for years to come without issue.
Why Restaurants May Want Umbrella Insurance
If you own a restaurant, you likely need high-quality liability insurance. There are many scenarios in which liability may be a huge problem for some restaurants. As a result, you may need umbrella policies, which provide extra coverage on top of your standard policy. Here are a few situations that an umbrella policy can protect you against, giving you an idea of why they’re so vital:
- Damaging food poisoning cases that affect many people
- Slip and fall cases where a person is injured heavily
- Burns caused by your food or your cooking processes
- Heavy injuries caused by table collapses or other structural issues
If you have experienced any of these situations or are worried that they might affect you, it is a good idea to talk to an insurance company right away about your umbrella policy options. Our team can help you better understand your options here and give you the insight that you need. And we’ll do what we can to make sure that your option is suitably designed for your specific restaurant needs.
Give Our Services a Chance
As you can see, the best restaurants will thrive if they get an umbrella insurance policy. So please make sure that you talk to us at David King Insurance Services LLC right away. We can help Coppell, TX residents get the high-quality insurance that they need for their restaurants and their protection.
Umbrella insurance is a type of policy that expands your existing liability coverage, therefore, filling the gaps left by homeowners or auto insurance. Buying an umbrella insurance policy can offer extra financial security if an unexpected eventuality occurs. Contact us today at David King Insurance Services LLC in Coppell, TX, and our agents will help you land proper coverage that instills peace of mind.
In a nutshell, an umbrella insurance policy cushions you from liability claims that supersede the typical insurance limits. Most insurance representatives recommend that an umbrella insurance policy be acquired by anyone who possesses sizable assets. This superstition is not the ultimate truth! Because even an individual who has an average net worth is susceptible to a potential lawsuit, which can culminate into financial ruin for the rest of his/her life.
If a third party successfully sues you, all your hard-earned assets could be at risk. Acquiring extended coverage and some different types of insurance policies as a Texas resident is pivotal because it can substantially increase your financial security. Umbrella policy rates depend on the type of policy and coverage limits. Visit us today at David King Insurance Services LLC offices, and our trusted agents will provide you with competitive insurance plans and rates of umbrella insurance.
Why do you need an umbrella insurance policy?
- Umbrella liability coverage offers protection against the imminent financial fallouts of certain types of unexpected phenomena that culminate in property damage or bodily injury for which the policyholder is deemed responsible.
- An umbrella liability takes into effect when other insurance policies such as auto and homeowners have been depleted.
- In some instances, umbrella insurance policies are tailored to offer a broader form of protection that is not covered by the underlying policies such as false arrest, slander, libel, or defamation by assisting you in catering to legal fees.
- Additionally, an umbrella insurance policy can extend coverage to family members, including your spouse and children, against high costs that arise from accidents.
Did you know that investing in an umbrella insurance policy can potentially salvage you a significant amount of dollars down the road? Contact us or visit our office at David King Insurance Services LLC in Coppell, TX. Our professional team will help you get outstanding umbrella insurance that will continuously meet your needs.