Umbrella Insurance Adds To Your Existing Coverage

Your Maryland umbrella insurance coverage will provide you protection in addition to the coverage provided by your standard insurance policy. Once you have arranged for the typical insurance policies for your home and your autos, it is time to turn your attention to an umbrella insurance policy. This additional protection can provide you some peace of mind that you and your loved ones will be financially supported in the event of significant monetary claims.
What exactly is umbrella insurance?
The term “umbrella coverage” refers to the way that an umbrella insurance policy acts as a protection above the rest of your insurance coverage. It has the breadth to protect you from major lawsuits involving millions of dollars. In many instances, those lawsuits involve situations that aren’t covered in your standard insurance policies. Maryland umbrella insurance provides protection in addition to your existing policies.
How does umbrella insurance work?
After a settlement has reached the limits of the coverage provided by your other insurance policies, the umbrella insurance will kick in as coverage against the rest of the claim. Some examples of situations in which this insurance would be valuable include instances involving guest being injured while at your home or damage to your guests’ possessions or automobiles while they are on your property.
You can decide whether or not an umbrella insurance policy is right for you by visiting with an insurance professional. However, if you live in an affluent community or if you travel extensively in your own automobiles, you may find that an umbrella policy is a very important addition to your existing coverage.
Visit the Advantage Group website for more information.