Who Needs Personal Umbrella Coverage?

The basic fact of today is that lawsuits are just about everywhere. It used to seem that only the wealthy needed umbrella coverage and was the only ones to be able to afford it. That is no longer the case as umbrella coverage is becoming more affordable. Many wonder what exactly umbrella coverage covers and it if it is worth it for them.

Umbrella coverage kicks in when your other insurance policies run out. Basically, umbrella coverage provides added protection on any of your assets. If you have auto insurance, homeowners insurance, personal injury coverage or more, adding an umbrella policy can strengthen those other policies. For example, if there is an incident in your home and you are sued for $1 million but your policy is capped at $500,000, you are liable for the remaining $500,000 that your policy does not cover. This is where umbrella coverage comes in.

You are vulnerable to legal action and large judgments if you have a condo, drive a car, and more. With umbrella coverage, you can protect your assets with higher amounts at affordable rates.

To learn more about umbrella coverage and who exactly needs it, contact Pulp Street Corporation.

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