our homeowner’s insurance policy covers a certain amount, including coverage for accidents that happen to others on your property. Unfortunately, sometimes these limits aren’t enough, depending on the nature of the incident. In these situations, you may need to consider umbrella liability insurance for your personal coverage insurance. Discussing this option with an insurance agent in Dallas will ensure you make the best choice for your financial future.
Higher Limits
All insurance policies have a limit to how much they can pay out in a claim. If you rely solely on your homeowner’s insurance to cover the cost of injury and associated medical costs, you could be facing a loss you can’t pay for. An umbrella liability insurance policy offers higher coverage limits so you can cover yourself in the event the involved party sues. In most cases, you will be covered up to $1-million, depending on the policy you purchase.
A Low-Cost Addition
Many people hesitate to add extra coverage to their insurance policy because they don’t want to increase their monthly or annual rate. Fortunately, when you work with an experienced insurance agent in Dallas, you can put this fear at ease. Although an umbrella policy adds a significant amount of coverage to your policy, it doesn’t cost a lot to add.
Get Help with Lawsuits
One of the biggest concerns when people are injured on your property is the idea of being sued. Most typical homeowner insurance will easily cover medical expenses. Unfortunately, today’s society is often quick to sue, which can mean a much higher settlement, quickly exhausting your typical liability insurance coverage. When you have an additional umbrella policy, it not only increase the coverage limits to accommodate lawsuits, you also often have access to your insurance company’s team of lawyers to help you navigate your case. Their lawyers want to protect the insurance company’s assets and will work hard to obtain a successful outcome. When you are looking for personal coverage insurance, it’s important to consider all of the factors. An insurance agent in Dallas can help you decide whether adding an umbrella liability insurance policy to your arsenal would be the best decision. With the right coverage, you won’t have to worry about whether you have the finances to pay for injuries that occur on your property, even if the injured individual attempts to sue you. If you are looking for an experienced insurance agent in Dallas to handle your insurance needs, contact us. We can help you decide if an umbrella policy makes sense for you.