You’ve probably heard of liability insurance, but umbrella insurance is more than just a standard liability insurance policy. This extra liability insurance protects you and your assets in the event of a major claim or lawsuit. Umbrella insurance can help protect your assets as well as your future and is available from Nest Insurance Agency in Lubbock and Amarillo, TX.
What’s Covered Under an Umbrella Insurance Policy?
An umbrella insurance policy covers you from injuries and property damage. It’s also beneficial in certain lawsuits and personal liability situations. For instance, it covers you in the event of a bodily injury liability claim, which is when there’s damage to another person’s body. It covers medical expenses in the event you’re in an auto accident which causes bodily harm to another person. It includes if your dog should hurt someone or if someone gets injured on your property as a result of a someone falling in your home. Umbrella insurance could come into play if a child is playing and sustains an injury.
Examples of What’s Covered Under an Umbrella Insurance Policy
If you damaged another vehicle or someone’s property during a car accident, you could find yourself exceeding the limits of your standard policy, which is when an umbrella policy comes in handy. Let’s say your dog damages your friend’s property. If you don’t have enough insurance to cover the price of the damage, you can use your umbrella policy to cover it. If you own property that you rent, you could use your umbrella policy to cover the cost of liability or even your tenant’s dog biting someone who walks onto your property, if they don’t have a policy of their own.
Other potential uses for an umbrella policy, include slander, libel, false arrest or imprisonment, or malicious prosecution. Shock or mental anguish is also covered.
If you would like to discuss opening an umbrella policy, contact Nest Insurance Agency in Lubbock and Amarillo, TX by calling 806-476-2580 for a quote.
