Umbrella insurance is a less common and unique type of coverage, but still very important for people in Pennsylvania. Broadly, umbrella insurance starts coverage when other policies reach their limits. This is typically applied to home, auto, and other vehicle insurance policies. We offer a variety of umbrella insurance packages at Quaint Oak Insurance. Here are the basics of what umbrella insurance is designed to cover.
When other policies reach their limits, your umbrella coverage kicks in to pick up the cost. The main reason individuals pick up umbrella coverage is that they are at risk of being sued. If other policies are depleted through the course of legal proceedings, umbrella insurance kicks in to cover those costs. Additionally, this coverage is excellent for handling the expenses resulting from libel, slander, and injury. Another way to think of umbrella insurance is that it helps prevent a lawsuit from draining your personal finances and holdings.
In short, if you feel that you are running the risk of being sued or have liabilities that could result in a lawsuit, umbrella insurance is more than likely a good option for you. If you are a landlord, allow public access to your property, or are otherwise taking on risk with your property, umbrella insurance can help lessen the financial burden of a lawsuit. Even if you don’t have a public concern, if you own hazardous items such as swimming pools or trampolines, umbrella insurance is a must to prevent an unfortunate accident from being financially devastating. Consider your specific circumstances and talk to our experts about which types of coverage are best for you.
Our experts at Quaint Oak Insurance can help you pick the best policy for your needs. Stop in or give us a call today!
for all your insurance needs!