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101 N Ivy St
Canby, OR 97013

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Does Umbrella Insurance Only Cover Liability?

The short answer to whether umbrella insurance only covers liability is, essentially, yes. This policy gives people the means to fight or settle complicated claims that quickly exceed the liability limits of the standard policy. If you live in Canby, OR, Oliver Insurance wants you to have all the facts before deciding if buying umbrella insurance is the right move for you. 

How Liability Works 

Standard insurance policies will cover liability. So in case you make a mistake on the road or you neglect to wipe up a spill at home, you’re not left with the resulting bills to be paid out-of-pocket. But if you look closely at the fine print, you’ll see that your liability coverage does not extend indefinitely. And if you only have $25,000 for bodily injury, it’s not hard to see how this can run out pretty quickly. 

Commercial Benefits 

Umbrella insurance is usually associated with its commercial benefits because most people will only sue a person or entity with enough assets. So a CEO who’s constantly making deals and breaking hearts may take out an umbrella policy to ensure they’re covered in case they need to fight a claim or settle it outside of court. But the reality is that individuals may be more at risk than they think. Just one incident can result in disastrous implications if the policyholder doesn’t have enough coverage. 

Contact Oliver Insurance 

Our staff is here to serve the people of Canby, OR, so they have all the protection they need. Just one lawsuit can end up lasting for months with expenses mounting with every passing day. If you want to learn more about the types of umbrella insurance and who they’re meant to cover, we can help you understand your options. 

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