Umbrella insurance coverage is often misunderstood and one of the most critical to have in Ohio. No one wants to plan for any of the worst things that can happen in life, but you’ll be relieved you did if the worst does happen. Umbrella insurance is a liability policy that helps protect your valuable assets and finances because situations can occur that extend beyond your current insurance coverage.
An umbrella policy is designed to begin where your other insurance policies leave off, so it’s an extension of your coverage like an umbrella. For example, if someone is seriously injured in your home and you are held liable for the medical expenses. If your homeowner policy includes liability coverage for up to $500,000 and the expenses exceed this amount, then the umbrella policy would kick in and provide more coverage. This same example could also be applied to your auto insurance policy.
Umbrella insurance can also provide coverage for situations that your other insurance policies do not cover, such as a libel suit, slander, invasion of privacy, and a false arrest. Today, people are quick to file a lawsuit, and even if you don’t believe you have many assets to protect, you could have more than you think. A lawsuit that ends with a judgment against you could cause you to lose your home, any retirement funds you have saved, your investments and savings, and even future wages can be garnished to satisfy a judgment. Umbrella insurance coverage may help avoid these nightmares and protect your assets.
At LFL Insurance Agency LLC, Ohio, we understand the importance of umbrella insurance coverage. An LFL insurance agent can answer any questions you have and help you determine the amount of umbrella coverage to help protect you financially. Contact an LFL agent today to review your current coverage and plan for your additional coverage needs.
Providing our customers with a lot more than just a great insurance policy. We provide consultation services to find the right policies to protect your company, your loved ones, and your home. Our focus is on YOU, our client, not the insurance carriers. You'll find many lines of affordable personal and commercial insurance policies which allows us to customize a policy to suit your specific needs. Whether you happen to be shopping for auto and home insurance, or you're a small business owner shopping for group health plans and business owner policies, we've got you covered!