What Storms Can an Umbrella Policy Protect You From?

Umbrella Policy Apple Valley MNIt is raining lawsuits – Do you need one?

It is impossible to predict whether you may face a lawsuit after a car accident or incident on your property. Nor is it possible to predict the amount that might be awarded to the winning party, an amount that you would be responsible for paying. To protect yourself against the possibility of a devastating financial loss, you will want to purchase an umbrella policy.

What is an umbrella policy?
An umbrella protects you when you are out in the rain, wind, and storms. Similarly, an umbrella policy ‘shelters’ you from the plethora of expenses that come along with a liability lawsuit. Coverage extends a step beyond the limits of your auto and home insurance policies so that you do not have to worry about expensive payouts. In essence, it ‘covers’ your finances and assets from inclement weather.

Below are just a couple of incidents in which an umbrella policy can protect you from a storm of expenses!

Car Accidents
If you are at fault for a major accident involving several cars or multiple passengers, your vehicle coverage could get exhausted immediately. Once you reach the limits of your auto policy, you will be left to pay the remaining expenses on your own. As we all know, medical bills and property repairs are not cheap.

Injured Visitor
For those who have a swimming pool, trampoline, or playground equipment, if someone suffers a serious injury while playing, you could be responsible for some hefty medical bills and an expensive lawsuit. Your homeowners insurance policy offers a certain limit of liability protection, but anything over that is on you.

Pick up the right umbrella policy today by contacting the professionals in Apple Valley, Minnesota – Mayer Insurance!