Many individuals are unaware of how valuable of an asset an umbrella insurance policy is. Despite popular belief, nearly every individual could benefit from an umbrella insurance policy. Your family deserves guaranteed protection, and without an umbrella policy, the guarantee diminishes.
An umbrella insurance policy acts as an extra layer of protection, extending coverage whenever your standard policies become exhausted. You can choose to purchase an umbrella insurance policy to extend coverage of your homeowners’ insurance policy, auto insurance policy, or even your business insurance policy. Whenever the coverage on your standard policy is limited, your umbrella insurance policy will kick in.
There are a variety of common situations that would make an umbrella policy worth the inexpensive extra policy premium such as dog-bite liability claims, home pool injuries, multi-vehicle car accidents, and more. Imagine if you were determined to be at fault for an accident involving multiple vehicles. Of the multi-vehicle auto accident, two passengers and one driver become severely injured. The coverage of your auto insurance policy would be there to cover some of the expenses. With three major injuries that involve expensive medical expenses, it is unlikely that your standard auto insurance coverage will suffice. On top of those medical expenses, imagine if one of the passengers decides to take legal action against you. There is no way your standard auto insurance coverage will be enough to protect your assets if you are involved in a lawsuit.
Accidents are inevitable, therefore, you must have an umbrella insurance policy in order to receive guaranteed protection. Both you and your family deserve the extra layer of protection an umbrella insurance policy provides.
Contact Medwin Insurance Agency for all of your California insurance needs. We can help you protect your assets and your family with an umbrella insurance policy!