An umbrella insurance policy helps supplement your existing insurance. If an accident occurs that is not covered by your current policy, or if the accident is beyond your deductible, then umbrella insurance can make up the difference.
Umbrella insurance in Texas is not just for the wealthy. Umbrella insurance can protect you if someone is injured while on your property. Between the costs of medical bills for the injured person and your legal fees, your costs may add up to more than what your liability coverage offers, and so you will be protected. The same goes for a car accident when your auto insurance is maxed out. Umbrella insurance will help protect you if you have another type of lawsuit that is not covered by your home or auto insurance policy. Anything can leave you open to a lawsuit, including posts on social media. With an umbrella policy, you can be protected from any lawsuit and have your legal fees covered within your policy limits.
Umbrella policies will typically cover bodily injury, personal injury, property damage, landlord liability, and legal fees, but they typically won't cover personal belongings, intentional or criminal acts, and what's covered under other policies. Check with your agent at Salgado Insurance to see what's covered.
Anybody can get an umbrella policy, and it's a good idea for businesses, too. You can't control who will get injured, and you may injure someone who is wealthy and have to pay a lot for lost earnings. Everyone is at risk for a lawsuit today, no matter how careful you are. It's recommended that everyone should have at least a $1 million umbrella insurance policy, but for those that have more assets, such as rental properties, you should have a policy that is for $3 million to $5 million. The premiums will depend on the risk, but they can be relatively inexpensive to add on and help give you peace of mind.
Contact Salgado Insurance serving Texas to get a quote for an umbrella policy.
