Umbrella Insurance

What is Umbrella Insurance?

Most insurance policies have a limit that keeps the premium cost under control. This helps insurers accomplish their financial responsibility and also meet the claim needs of their policyholders. 

However, limits can leave you susceptible to financial losses because if the claim exceeds the amount of a policy’s limit, you will have to pay the remaining amount out of your pocket. This is where the umbrella policy comes in handy. It fills the gap that exists between your limits and your potential claims. 

Umbrella policies not only extend the coverage limits of the various liability insurances but also provide additional coverage of $1 million or more to each of the policies you have. 

If your auto insurance policy has $250,000, the medical expenses, as well as the lawsuit, could cost you more than the insurance limit when you injure another person in an accident. 

An umbrella insurance policy will give you an additional $1 million or more to cover medical expenses and lawsuits. This will help you keep your savings intact while satisfying your financial obligations. 

Most insurance policies will not cover situations such as when you’re accused of slander and libel. For such situations, an umbrella policy provides you the protection you need. Umbrella insurance policies can also be purchased by a business entity to extend the reach of its various liability policies. 

Umbrella insurance policies are inexpensive and can give you added liability protection, no matter how high your liability insurance policy limits are. Call Noble Insurance Service for umbrella policy options. We have over 36 years of experience in the industry.

About Personal Umbrella Insurance

Although home and auto insurance policies are important in your financial planning, as well as in protecting your family assets, they come with various limitations. Personal insurance policies such as home and auto insurance allow you to choose the coverage you need, but they only cover up to a certain dollar amount. You will need umbrella insurance policies for coverage beyond the limit. 

Protect yourself and your family from financial difficulties due to an unforeseen accident with an umbrella policy. Call the knowledgeable team at Noble Insurance Service today for more information.

Benefits of Personal Umbrella Insurance

• Protect your assets if you are held liable for property damage or bodily injury
• Cover legal fees, false arrest, libel, and slander
• Adds another layer of coverage on top of your basic policies
• Cover the remaining costs when you’ve reached the limits of your home or auto insurance
  

About Commercial Umbrella Insurance

As a business owner, you depend on various commercial insurance policies to protect your business. However, you need commercial umbrella insurance policies to cover various circumstances that result in higher bills.

Benefits of Commercial Umbrella Insurance