Why do people need to invest in an umbrella insurance policy?

Why Opt for an Umbrella Insurance Plan?

If you’re based in the Dadeville, AL area, assessing your personal liability risks should be a priority. It’s also advisable to ensure sufficient insurance coverage is in place to protect you if you’re found responsible for damages incurred by others. An umbrella insurance plan proves ideal for mitigating this risk. Here’s why you should consider obtaining this coverage.

Ensure Adequate Liability Coverage

Cover Exceeding Costs

One important motive for choosing an umbrella insurance policy is to provide enough liability coverage. You could confront significant costs if you’re ever adjudged responsible in an accident. Without apt liability coverage, you may have to pay these expenses out-of-pocket. An umbrella insurance policy allows coverage above and beyond existing liability plans to make sure you are aptly covered.

Enjoy Broad Protection

Range of Risks

Many people appreciate an umbrella insurance policy due to the broad coverage it offers. An umbrella insurance policy provides cover against many risks not housed under other insurance forms. So, it offers excellent reassurance and helps ensure support through almost all unexpected situations and liability claims.

Choosing the Right Umbrella Insurance with Highpoint Insurance Group

An umbrella insurance policy proves a wise choice for residents of the Dadeville, AL area who want to enhance their insurance requirements. To boost your coverage here, contact the knowledgeable professionals at the Highpoint Insurance Group. Our team will provide excellent guidance, support, and answers to all your queries, helping you build a new insurance plan that fits your needs.

Protect Your Assets with Umbrella Insurance

Do you live in Dadeville, AL? Are you one of the fortunate people that have many assets that need protection? If so, we at Highpoint Insurance Group can help.

Why Umbrella Insurance?

If you cause a major car accident, liability insurance protects you and your family’s finances from a lawsuit. For example, if you crash into another car, your car liability insurance will pay for their medical expenses, property damage, and legal expenses, but only up to your insurance policy limits.

What if the costs incurred exceed the liability limits of your auto insurance policy? That is when umbrella insurance takes over. It provides excess liability insurance, or simply put, additional coverage, beyond the liability coverage limits of your auto insurance policy.

But umbrella coverage is not only additional coverage for your auto policy but also for your home or boat. Think of this coverage as asset protection. It can prevent you from losing all you have worked hard for in the event of a lawsuit.

Here are a few examples of where an umbrella insurance policy could protect you:

  • You are at fault in a serious boating or auto accident. The bills mount up fast, especially if multiple people are involved. Your boating or automobile insurance policy would pay first up to the maximum, then the umbrella insurance policy would pay.
  • What if your dog bites a visitor? Dog bites are covered by a homeowners insurance policy. But if you are sued for an amount in excess of your homeowners’ policy, the umbrella policy would kick in.
  • If you or a family member accidentally injures someone, your umbrella policy will pay when the home or auto insurance is exhausted.
  • If you accidentally drive your car into a building by putting your car in drive rather than reverse, which can happen. It will cause extensive damage to the building. Your auto insurance will pay first, and the umbrella policy will pay second.

Reach Out To Us

If you need additional protection for all your assets, consider umbrella coverage. Contact us today at Highpoint Insurance Group in Dadeville, AL. We will answer all your questions or provide you with a quote.

Umbrella Insurance Adds Peace of Mind

There are a lot of ways to have more peace of mind, and umbrella insurance is one of them. If you’re in the Dadeville, AL area and looking for an umbrella policy, Highpoint Insurance Group can help. We understand that good coverage is needed, as it’s what protects you and the people you love. When you choose umbrella coverage options, you can have additional protection that goes above and beyond your standard policies. 

Here’s what you should know about choosing the right policy for your needs. 

Umbrella Insurance: What You Need To Know

First, it’s vital to understand that an umbrella policy isn’t a stand-alone option in most cases. Instead, it’s intended to act as its name implies, like an umbrella that covers everything. If you have home, auto, and other types of policies, they have coverage limits on them. Those limits are the extent of your protection if you need to make a claim. But, with an umbrella policy, you can have additional coverage that can be used if the limits of the first policy are reached. That means more protection and more peace of mind.

If you’re in the Dadeville, AL area and looking for umbrella insurance information and options, we are here to help. We know it can sometimes be confusing to get the right type and level of coverage, and we’re here to make it easier. A lot of people with significant assets, or those who own businesses, choose umbrella policies, but you don’t have to be in those categories to benefit from additional protection. There are a lot of reasons that a policy like this can be a good choice.

Give Us A Call

Reach out to us today at Highpoint Insurance Group, and let us work with you to find the best possible insurance coverage for your specific needs.

How much umbrella insurance should you buy if you are a property owner

While it is always better to be over-insured than underinsured, carrying too much umbrella insurance is not a wise financial decision. Umbrella insurance typically covers the standard things that other basic policies cover, which means that it cannot be used independently as a coverage. If you are looking to buy extra liability or umbrella insurance in Dadeville, AL, it is essential to understand how much coverage you need. At Highpoint Insurance Group, we are here to take you through the insurance journey and help you make smart insurance choices.

Assess your level of liability risk

Today’s complex society is quite litigious. That means that you are exposed to a wide array of lawsuits as a property owner. Since umbrella insurance focuses on providing extra liability coverage, you need to determine your level of need for liability. Lawsuits can be expensive in Dadeville, AL. They can quickly wipe out your savings and monthly earnings, leaving you bankrupt. So, which other factors should you consider when assessing your liability risk as a property owner?

  • if you drive a fast car
  • you have employees
  • you are involved in extreme sports or highly risky sports
  • you have a working spouse 
  • you have children below the age of 16
  • you are a homeowner
  • you have teenagers in your home
  • you have other businesses 

Your need for umbrella insurance may go down if you have higher premiums on other policies

Note that if you have bought enough coverage on other policies, the chances of ever using umbrella insurance becomes minimal. Remember, you can only use this coverage if the underlying home or boat insurance policy is used and depleted. Additionally, if you own rental properties, you are at a higher risk of getting sued. 

Umbrella insurance is an all-round kind of coverage that can protect you from a wide range of lawsuits, whether at your property, home, or on the roads. If you are still not sure how much insurance you need to buy, feel free to talk to us at Highpoint Insurance Group today!