6332 S Rainbow Blvd. #100 Las Vegas, NV 89118, USA
6332 S Rainbow Blvd. #100 Las Vegas, NV 89118, USA
Today, no matter how much or how little you own, you are at risk of being sued by other individuals if an incident occurs. As a result, you could lose much of what you own if you do not have a sufficient level of liability insurance. While your basic insurance policy can protect you in many instances, there might be an incident that occurs in which you do not have the proper amount of coverage. However, arranging for an umbrella policy can give you the peace of mind and financial protection that you need.
Designed to provide an extra layer of coverage, umbrella insurance protects you against losses that are not covered by your existing homeowners, auto, watercraft, or renter’s policy. You must have an existing policy in order to obtain umbrella insurance. It provides an additional amount of your choosing for liability coverage. Most insurers have a limit beyond which you cannot obtain additional liability protection.
Liability insurance is the part of your policy that is used to cover the cost of expenses incurred by an individual as the result of your negligence. These expenses include each of the following:
If the total cost of the expenses incurred by the injured party exceeds the limits of the liability portion of the at-fault person’s insurance policy, the courts can seize personal assets if no umbrella clause is in effect.
This type of coverage becomes active when the liability limits on your existing policy become exhausted. In fact, the standard limits which are typically featured with basic insurance policies is not enough to cover the costs of a horrific accident. Any expenses that are not covered by the initial policy are taken from the personal umbrella liability insurance coverage that you have arranged to include. This type of additional insurance coverage is inexpensive, so it is affordable and well worth the financial investment.
A liability umbrella can provide you with each of the following:
