Last updated 13 hours ago
You may understand how property insurance and personal insurance work, but what about umbrella insurance? If your home or business insurance plans provide less than adequate coverage, then consider the many benefits of having an umbrella insurance policy.
What is Umbrella Insurance?
Umbrella insurance refers to extra liability insurance purchased in addition to regular insurance policies. An umbrella policy sits ?on top? of your other insurance plans, providing extra financial protection in the event your other plans exceed their limits??????
How Does It Work?
This excess liability coverage takes effect when the underlying limits on your home or personal auto insurance policies have been exhausted.? .
Amount of Coverage
One of the biggest benefits of umbrella insurance is the amount of coverage. Some companies allow you to purchase anywhere from $1-5 million or more of excess coverage. You should purchase an amount that would protect your assets in the event of a covered loss for which you may be sued.
Options for Business Corporations
Both individuals and corporate businesses can benefit from purchasing an umbrella policy. Companies that invest in umbrella insurance are better equipped to handle general company and employee liabilities or lawsuits.
When it comes to insurance, you can never have too much coverage. For the best property insurance, business insurance and umbrella insurance plans available, call Tooher Ferraris Insurance at (203) 423-0043 today!
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