Your Homeowners Insurance policy protects you against a variety of catastrophes you may encounter as a property owner. And even though your policy may cover most of life’s uncertainties, such as a fire or storm damage, there are limits to the amount of coverage a policy provides. And some things you may think your Homeowners Insurance policy covers may not be covered at all.
For instance, if a neighbor or a houseguest slips and falls on your property and is critically injured, you could end up facing a lawsuit. And if you happen to lose the case, you may encounter court awards and legal fees that far surpass the limits of your Homeowners Insurance policy. For that reason, it’s a good idea to have an Umbrella Insurance policy in place.
What is Umbrella Insurance?
An Umbrella Insurance provides coverage when the liability limits of your Homeowners Insurance or Car Insurance are exhausted. Umbrella Insurance can also take care of some liability claims that are not covered by your basic coverage at all.
Will My Homeowners Insurance Cover Slips and Falls?
Many Homeowners Insurance policies already offer $300,000 in liability coverage, which would be enough coverage in most cases. However, if the high costs of medical and legal expenses turn catastrophic, and $300,000 is not enough to fully protect you, an Umbrella Insurance policy can help you avoid this problem.
Best of all, an Umbrella Policy is very affordable. Premiums vary, but in many cases, a $1,000,000.00 umbrella policy cost less than $200 per year.
Strobel Insurance Serves the Residents of Eau Claire, WI
At Strobel Insurance, we are dedicated to providing our clients with affordable and customized coverage options to meet their needs. Providing the residents of Eau Claire, WI, and the surrounding areas with the right policy options is our agency’s primary concern. We are an Independent Insurance Agency that represents many of the top-rated companies in the industry. We can compare rates and coverage options to help you find the best policy to suit your unique needs and your budget.
Final Thoughts
Homeowners Insurance can help cover many losses, but in the case of a severe accident, whether it be at your home or while on the highway. An Umbrella Insurance policy is the ideal solution for those who want the optimal coverage to protect their assets. At Strobel Insurance, we are here to help answer any questions you may have about Umbrella Insurance policy and how this additional coverage can benefit you in more ways than one.
To learn more about how Umbrella Liability coverage can supplement your auto and homeowners insurance, contact Strobel Insurance today for more details. Our licensed professionals will be happy to answer any questions you have.
