3 Reasons to Consider an Umbrella Policy

Umbrella insurance increases your liability coverage to protect you against large liability claims that exceed the limits of your home, auto or condo liability coverage. No one is exempt from accidents. A serious mishap in your home or on the road could lead to a lawsuit, putting you at risk of losing tens of thousands of dollars. Here are a few good reasons to consider purchasing an umbrella policy from Redden Insurance Agency, Bradley WV.

Accidents Happen

People are fallible, making them susceptible to committing mistakes that can cause accidents. If injuries or property damage from an accident you cause exceeds your primary liability coverage, you’ll have to pay the remaining costs. Umbrella insurance covers these costs to save you from financial loss.  

Primary Liability Coverage is Limited in the Protection It Has to Offer  

Your home, auto, and condo liability coverage is limited in the protection it has to offer. These limits may be inadequate to protect your financial assets or meet the risks of your lifestyle. Once these limits have been exhausted, you’ll have no recourse but to cover excess damages of large claims out-of-pocket. Umbrella insurance picks up where your primary liability coverage leaves off to protect you against the unexpected.   

Lawsuits Today are Rampant

You don’t have to be a millionaire to get sued for damages. If you own real estate property or have savings or investment funds, you’re a candidate for a lawsuit if the occasion warrants it. Losing a major lawsuit could cost you your home, savings, retirement funds or income from future sources. Umbrella insurance protects you against lawsuits by covering your legal fees and settlement, up to the limits of your umbrella policy.

To learn more about umbrella insurance and all it has to offer, contact Redden Insurance Agency, Bradley WV.