While most insurance policies have limits that can far surpass the event of a major disaster or serious accident, an umbrella policy can help shield you from being personally responsible from anything your primary insurance provider will not cover
Covering More Than Your Limits
Typical insurance limits for your vehicles, home and other policies should cover any bills that arise from accidents or disasters most of the time. In some cases where there is a large financial loss incurred by one party where you are found at fault, you may be found personally liable to make up the difference between your insurance limit and what a court determines is owed to the other party. Whether this happens at your home, on the road, or even on a boat, your umbrella insurance policy will act as a secondary insurance provider to make up the difference, up to the umbrella policy's limit. This limit is often much higher than a regular insurance policy limit, breaking into the high six or low seven digits.
In some cases, you may be afforded extra protection on top of what your primary insurance plans already offer. Some umbrella insurance policies can help protect you from lawsuits regarding libel and slander laws, which are generally expensive if the claim is found to have merit. An umbrella policy can also protect you against claims arising from false arrests, protecting you and your family from financial harm if you were to make a mistake and believe that you witnessed a crime or had a burglar in your house, while you step in to make a citizen's arrest.
To find out more about how umbrella insurance can keep you protected, visit with one of our insurance professionals at Stone Agency. Our team can help you find a great rate on your umbrella insurance and answer any questions you might have about coverage or limits.