Why It Makes Sense for Everyone to Buy Umbrella Insurance

So many people and businesses in the Pembroke Pines, FL area continue to shop around for umbrella insurance, but should you be joining the train? What is the real value of an umbrella insurance agency and is it something that is worth it for you as an individual, or as a business owner?  

There is a lot of good that can come from an umbrella insurance policy. With umbrella insurance, you are putting a big blanket of coverage over your existing policies. The minimum limit on an umbrella insurance policy is usually $1 million and this goes above and beyond what you already have for, say, an auto insurance policy.

Say you are in an auto accident and you are liable for the accident. You are paying or the damages of the other car, as well as the medical bills of the person. If the accident and whom you are liable towards is someone such as an executive, or someone with high assets, their bills could exceed the auto insurance limits. If you have no umbrella policy, you are on the hook for those costs on your own, versus having an insurance company pay them on your behalf.

Umbrella insurance can help to protect you against lawsuits, as well as other related liability. Other coverages will help with include legal fees, property damages, and more. What it will not cover is things such as worker’s compensation claims as well as damage you cause intentionally. With umbrella insurance, it makes all the sense in the world to make the purchase to give you peace of mind. Work with the McCormick Insurance Inc. group to be better prepared for your umbrella purchase today.