Umbrella Insurance
An umbrella doesn’t just shield you from rain. With umbrella insurance, you get extra liability protection extending beyond your typical liability coverages. An umbrella insurance plan from SLO Insurance Services LLC in California protects you when facing significant claims exceeding your auto, home, or boat insurance.
Why do I need umbrella insurance?
Your home, boat, or Business Insurance has limits. Meaning that when these limits are exhausted, you are on your own — your assets and cash will be at stake. For instance, assume you have boat liability coverage of $100,000. Suppose you cause a severe boat accident resulting in a liability claim of $150,000. Without umbrella insurance, you will have to finance the deficit of $50,000 from your pocket.
What does umbrella insurance cover?
Umbrella insurance is liability coverage — it doesn’t cover you or your property. Ultimately, umbrella insurance covers the below when accused by other persons:
- Bodily liability
- Property damage liability
- Personal liabilities like malicious prosecution, libel, false arrest, and slander
- Landlord liability
Besides, umbrella insurance pays for legal expenses, including lawyer fees and settlement costs. And the other good thing with umbrella insurance is that it doesn’t have a geographical limitation — it can cover you anywhere in the world.
Is umbrella insurance for the super-rich only?
There is a popular misconception that umbrella insurance is for the wealthy only. While persons with significant assets need umbrella insurance, this coverage is suitable for anyone earning a livelihood. However, if you belong to the following categories, you need umbrella insurance ASAP because the risk of being sued is high. You need umbrella insurance if you:
- Own a dangerous pet that can bite
- Coach youth sports
- Own a boat, car, or home
- Participate in high-risk activities like archery and skiing
- Chair a charitable organization
- Have a heavy online presence
Would you like to boost your auto, boat, or home insurance in California? Why don’t you get in touch with SLO Insurance Services LLC for umbrella insurance coverage? We will provide you with a policy plan that suits your lifestyle and budget.
