One important type of coverage that consumers in Pembroke Pines, FL need to understand is umbrella insurance coverage. At McCormick Insurance Inc.we offer umbrella insurance coverage.
The following are three common misconceptions about umbrella insurance that consumers need to be aware of.
Umbrella insurance only enhances auto and home insurance policies.
Umbrella insurance policies are most commonly associated with auto and home insurance policies. Umbrella insurance coverage covers the costs of liability issues when they go over the policy maximums of auto and home insurance policies.
However, auto and home insurance policies aren’t the only types of insurance that umbrella insurance adds coverage for. Umbrella insurance also provides added coverage for those who hold boat insurance, recreational insurance, and numerous other types of insurance.
Consumers with umbrella insurance rarely end up using this type of insurance coverage.
You’d be surprised at how often policyholders with umbrella insurance coverage end up filing a claim on this type of policy. Expensive lawsuits are probably more common than you think.
You shouldn’t underestimate the probability that you will face a costly lawsuit that’s too expensive for your home or auto insurance policy to cover.
Only high net worth individuals benefit from umbrella insurance.
You don’t need to be a millionaire to benefit from umbrella insurance coverage. In fact, you can benefit from this type of coverage regardless of how much money you make or how much money you’re worth.
Without umbrella insurance coverage, you put everything you own at risk. That’s why umbrella insurance coverage is important not only for the super wealthy, but also for consumers with an average net worth.
Are you shopping for umbrella insurance in Pembroke Pines, FL? We can help you in your search for an appropriate policy at McCormick Insurance Inc. Contact us to inquire about our policy offerings.