Ensuring that you are properly covered by insurance is very important. When you are considering your personal insurance needs, one type of coverage to consider getting is umbrella insurance. An umbrella insurance policy is a general liability policy that will provide coverage on top of your home or auto policy. This type of coverage can help you a number of different ways when you buy a policy from Lonestar Insurance Specialist in Amarillo, TX.
Damages Exceeding Liability Coverage
The first situation in which umbrella insurance will help you is when the damages of an accident exceed your liability insurance in your home or auto policy. If you are found legally liable for an unfortunate accident, it is very possible that it could exhaust your base insurance policies. When this happens, you will want to have an umbrella insurance policy in place as it will work to provide you with additional liability insurance coverage.
If you are a wealthy individual or public figure, your risk of being sued for a larger claim is even higher. Because of this, having the additional coverage in place could help to protect your assets.
Certain Liability is Not Covered
Another situation in which you will be glad that you have liability insurance is when a specific type of liability is not covered. Your home and auto insurance policies will provide you with a good level of coverage. However, they do not necessarily include all potential types of liability. For example, if you are sued for slander or libel, it likely will not be covered under your standard home insurance policy. In this scenario, you will want to have umbrella insurance to handle this type of liability coverage.
When you are shopping for umbrella insurance in the Canyon or Amarillo, TX area, you should speak with Lonestar Insurance Specialist. Our insurance professionals will be able to explain your options and ensure that you find a great policy.