October 27, 2016

How Does Umbrella Insurance Work?

umbrella insurance
While most people typically invest in a variety of different insurance types, there are still some gaps that can develop in an otherwise healthy insurance portfolio. For those situations, umbrella insurance is an effective “gap closer” that can cover any excess areas that aren’t typically handled by any existing insurance plan that a person has. At All American Insurance, we’ve found that umbrella insurance coverage can be the difference between a person emerging from a catastrophe relatively intact and financially stable or finding themselves buried under the rising costs from court fees, medical expenses, or lost assets. We don’t want anyone to fall under a financial burden, so we thought it was only appropriate that we take a look at umbrella coverage and quickly explain its value.
Unlike other types of insurance, umbrella coverage doesn’t refer to a specific asset or property type. It is distinct from homeowner’s insurance, auto insurance, or renter’s insurance. Instead, umbrella coverage is typically used to cover the costs associated with legal representation, medical bills, or replacing assets that were lost or destroyed in the event of a natural disaster. Since umbrella coverage is much more versatile than other types of coverage, it also usually comes in at a significantly reduced rate. If you’re someone that’s very budget-conscious, then umbrella coverage is an affordable alternative to many other types of insurance. It can offer you protection that other types of insurance can’t, for a value far exceeding its premium. We want to make sure everyone has the opportunity to get the best protection possible, so we regularly work with customers to develop affordable umbrella coverage plans.If you think you might interested in adding umbrella coverage to your existing plan, or you’re looking to find a new insurance plan altogether, make sure you contact us for more information. At All American Insurance, we’re always excited to help a customer explore new options or pick up an entirely new plan. Don’t wait until something bad happens, manage your future today with us.

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