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Allen, TX 75013

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What is umbrella insurance and why should I have it?

The best way to describe umbrella insurance is as protection for your hard-earned assets. It adds an additional layer to the liability insurance that you already have. At Texas Independent Insurance in Allen, TX, we are independent insurance agents and we work for you. With our connection to the finest carriers in the insurance business, we can make sure that you have coverage that is customized to suit you and your needs. 

Many people think that you only need umbrella insurance if you are wealthy. Nothing could be farther from the truth. If you have any assets, you need to protect them. It doesn’t matter whether it is thousands of dollars or millions of dollars, they are your assets and they deserve protection. 

An umbrella policy is excess liability insurance. What it does is add an additional layer of liability coverage to a policy that you already have. Without a policy with liability coverage, you can’t buy umbrella insurance. Think of umbrella insurance as an umbrella and you are your asset. The rain, hail, or snow are all the things that can go wrong and result in your being involved in legal action. The umbrella protects you from getting wet. The umbrella insurance keeps your assets from being lost to a judgment against you. 

Insurance policies that have liability coverage include home, condo, rental, auto, motorcycle, and boat coverage. If you are sued, the first line of defense is the liability coverage you have on one of these policies. If the expenses go beyond this coverage, your umbrella policy will cover up to the limit on that p[policy. Most umbrella policies are for one to five million dollars. Given legal expenses and judgment sizes, this makes good sense. 

Contact Texas Independent Insurance in Allen, TX for all your insurance needs. 

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