Umbrella insurance serves as an extra form of protection against cases of liability. It’s an add-on policy that provides more coverage than is typically offered in a standard auto or homeowners plan if an accident causes serious injuries, property damage, and a lawsuit. At Coverra Insurance Services, the agents are dedicated to ensuring each Sparta, Tomah, and Holmen, WI, client is adequately covered with quality products that meet their unique needs. Below, they explain how this comprehensive option is beneficial.
Protect Yourself From Liability Issues
Regardless of how cautious a driver you might be or how well you maintain your property, accidents can still happen. It’s also not uncommon for incidents to lead to lawsuits. If someone sues you for an amount that surpasses the liability limits of your regular insurance policy, you could be at risk of losing your assets and financial security. With umbrella insurance, you have the added coverage you need in such unfortunate circumstances to pay out the remaining balance you owe.
Avoid Legal Fees & Loss of Future Income
An umbrella insurance policy will also provide the funds you need for legal fees to defend yourself in a lawsuit. You’ll need quality legal representation to fight on your behalf and minimize your loss. In addition, it’s important to recognize that your future income and assets could be in jeopardy. Even if you don’t have the means to pay off a judgment currently, you may be obligated to hand over anything you earn or obtain in the coming years.
Purchasing umbrella insurance is an inexpensive way to gain peace of mind that your assets and finances are properly protected. If you aren’t sure whether you need additional liability coverage, the skilled team at Coverra Insurance Services will assess your situation and determine what plan suits your best interests. Contact them at (608) 269-2127 to schedule an appointment today, or visit them online to learn more about what they offer.