Many people don’t realize that umbrella insurance can help almost anyone. Like a real umbrella, an umbrella policy covers you and your family when troubles rain down, keeping you safe from harm. If you live in or around Canby, OR, Oliver Insurance can help you learn more about an umbrella policy to decide if it would help you.
What Is Umbrella Insurance?
An umbrella policy is an extension of your regular insurance. As an individual, you may carry policies for your auto and home. If you have a small business, you may have several kinds of insurance, such as general liability, product liability, commercial auto, and others.
If you are involved in an accident, and that accident is determined to be your fault, your insurance will pay out to your coverage limits. For instance, if you have a $50,000 limit on medical bills, your insurance will stop paying at $50,000. Someone who has suffered severe injuries may need much more than that to recover.
If you have umbrella insurance, you must wait until you reach the maximum on the original policy. After that, the umbrella coverage kicks in, continuing to pay on the claim.
Why Is Umbrella Coverage Important?
Without the umbrella policy, you or your business would be liable once you meet your maximum limits. Not only does umbrella insurance continue to pay on the basic claims, but your coverage will also pay for associated legal fees and other expenses.
Canby, OR is a great place to live, but sometimes things happen. Umbrella insurance gives you the peace of mind to know you and your family are safe. If you want to find a policy or have questions about umbrella insurance, please call Oliver Insurance today.