Umbrella Insurance: What You Should Know

Insurance of any kind is designed to protect your assets from catastrophes. While most people in Canby, OR focus on purchasing auto and home insurance policies, these policies may not always provide the level of insurance protection that you truly need. That’s where umbrella insurance from Oliver Insurance comes in and fills the gap that your other insurance policies leave open.

What Is Umbrella Insurance?

Umbrella insurance is a special form of liability coverage that simply goes above and beyond your other insurance policies. However, this does not mean that you don’t need those policies. Instead, umbrella insurance serves as a supplemental policy.

For example, in the event that someone injuries themselves while at your home, your home insurance will likely cover the expenses. However, it will only cover the costs up to the limit of your policy. If this limit is $250,000 and the costs associated with the incident exceed that amount, you will be responsible for those expenses.

With an umbrella insurance policy, though, it will cover those expenses so you don’t have to.

Benefits of an Umbrella Insurance Policy

Umbrella insurance simply offers protection when your other policies cannot. It can even protect you when you are facing an incident-inspired lawsuit.

A policy like this can be beneficial to those who are at risk of having a lawsuit placed against them, including homeowners with pools, trampolines, or dogs, as well as auto owners who have inexperienced drivers. Umbrella insurance can also be invaluable to people who have significant assets due to the fact that the basic insurance policy is unlikely to sufficiently cover them.

If you have questions about umbrella insurance, including what is and isn’t covered, contact us at Oliver Insurance. We proudly serve the Canby, OR area and are happy to help you in finding the best policy coverage for your situation.