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.