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Do I have enough insurance? It's a question that people ask themselves on a frequent basis and with good reason. The number of lawsuits filed each year for negligence keeps increasing and the amount of money being paid out also increases with each passing year. If you're found at fault for an automobile accident or for an accident in your home, will your auto or homeowner's policy cover all the claimant's damages? Brush Insurance Agency Inc. offers personal umbrella policies to give you an added layer of protection.
Your homeowner's and auto insurance policy both include what's known as "liability insurance." If you're found negligent in an automobile accident or in regards to an injury sustained by a person who was on your property when the injury happened, the liability portion of your policy pays for the medical expenses, therapy costs and lost wages of the injured person.
The unfortunate part about most auto and homeowner's insurance is that there are limits on the liability coverage. If another person is injured due to negligence, their costs could rise well above what your insurance covers, even if you have the highest protection limits possible. A personal umbrella policy helps protect you against claims that go above and beyond the limits set forth in your auto or homeowner's policy. If you don't have the right coverage in place and you're found at fault, it can have negative consequences on your financial well-being.
Standard personal umbrella amounts range from one million up to ten million dollars in additional coverage. Other insurance policies would be used first until their limits are reached and then your personal umbrella protection would kick in. One of the main issues with standard insurance policies these days is that you can't predict if a person is going to make a claim against you and you can't predict how much they'll be awarded by the court system if they decide to sue you. By having a personal umbrella policy in place, you're giving yourself an extra layer of protection and peace of mind. Brush Insurance Agency Inc. will work closely with you to determine if a personal umbrella policy is right for you. For more information or to get a policy in place, contact our experienced staff at our Dayton, Ohio location.