Not all insurance policies are created the same. In fact, all insurance policies have limits and if you need more coverage than what those policies can provide, then it may be time for you to look at purchasing an umbrella insurance policy. These types of policies can have a lot of benefits, especially for people while assets of high value. Continue reading to learn more and see if an umbrella insurance policy is the right option for your needs.
- Umbrella insurance policies take over when your other policies stop providing coverage. There is a maximum coverage amount with every type of policy including auto insurance and homeowners insurance. If your assets are higher in value that the coverage you can buy, umbrella insurance is what you need.
- Umbrella insurance can cover other assets such as your savings account, checking account, and even your retirement accounts. Just like your other insurance policies, banks tend to only provide a specific amount of coverage for your accounts. If you have a high value of assets in these accounts, you may want to consider getting this type of coverage for them.
- This type of insurance policy can protect you from personal injury including slander, libel, wrongful conviction, and false arrest. This is a type of coverage that is best for people o high profile in their communities.
- You can purchase an umbrella insurance policy with coverage that ranges anywhere from $1 million to $5 million. That will protect a lot of assets that you may have and is ideal for someone with high value assets.
If you would like to learn more, want to look at your existing policies, or get a quote for an umbrella insurance policy, please contact us at Alliance Insurance Services. We would be happy to assist you.