What Is Umbrella Insurance?

Having an insurance policy doesn’t always mean that you have the coverage you need when you need it. Liability coverage can be expensive, and many home and auto policies don’t include much of it. When you don’t have enough liability coverage, you often end up paying an overage when your home or auto insurance doesn’t pay enough toward the medical bills. With umbrella insurance, you can change this. If you want an umbrella policy, call us at Integrity Advisors Agency LLC (Stephen Reese) in San Antonio, TX.

More Liability

If you were to go to both your home and auto policies and add liability coverage directly to them, this can be prohibitively expensive. That’s why too many people simply don’t have enough of this coverage. However, getting an umbrella policy remedies this situation. Umbrella policies are very large, and they come with a small price tag. They are much more affordable for getting more liability coverage than changing the home and auto policies themselves. 

Applying Umbrella Insurance

When you have an umbrella insurance policy, it works along with the home and auto policies that you have. After an accident with injuries has happened, the home or auto policy will assess the medical bills and pay for them up to their maximum payout. When there are bills left over after that, umbrella insurance comes in to pay the rest. And because umbrella policies have such large maximums, it is highly unlikely that there would be any overage after it has paid out. 

Get More Liability Protection

If you want to be better protected in case of accidents, it’s a smart idea to get an umbrella policy. It can give you better peace of mind when you know that you have the protection you need. Contact us at Integrity Advisors Agency LLC (Stephen Reese) in San Antonio, TX.

How Does Umbrella Insurance Protect Someone?

Whereas every individual earning a livelihood in San Antonio, TX needs umbrella insurance; you might be wondering whether this insurance is a necessity. To make it clear, Integrity Advisors Agency LLC (Stephen Reese) explains how umbrella insurance protects you.

How does umbrella insurance protect me?

Umbrella insurance refers to extra liability coverage that steps in when your other insurance coverages are depleted. It’s meant to cover things such as:

  • Bodily injuries: If you are the one to blame for an event that caused physical injuries to others, your umbrella insurance pays for the treatment costs. It also protects you against lawsuits.
  • Property damage liability: If you harm or destroy another individual’s tangible property, your umbrella insurance cover will step into your rescue.
  • Landlord’s liability: As a landlord, you need umbrella insurance to protect your investment. You can be sued for various reasons. For example, when someone falls while on your property and sustains injuries, or your dog biting a tenant.
  • Slander or libel: If you make alleged malicious information about other people, they can sue you. In such cases, only umbrella insurance can help.

Who needs umbrella insurance the most in San Antonio, TX?

While most people need umbrella insurance, persons in the below categories need it most since the risk of being sued is high. You should purchase umbrella insurance if:

  • You are a landlord
  • You coach kids
  • You own significant assets
  • You hold a reputable position in an organization or society at large
  • You host parties frequently at your residence
  • You take part in a sport that can cause injuries to others 
  • If you own dogs or other animals that can cause harm

With the above information, it’s easy to decide whether you need umbrella insurance. If you feel it’s for you, don’t hesitate to reach out to Integrity Advisors Agency LLC (Stephen Reese) for further help. 

What is umbrella insurance?

Your home insurance and auto indemnity policies may not be enough to cover unexpected incidents. Even those with the best indemnity plans may find themselves in a financial bind when the insurance policy does not cover an event. Umbrella insurance can help you recover losses when the policy limits of your standard indemnity plan are exhausted. An agent at Integrity Advisors Agency LLC can help you understand how to make the most of an umbrella insurance plan in San Antonio, TX.

What is umbrella insurance?

Many like to consider umbrella insurance as a safety net. Your standard indemnity policy pays up to its policy limits. You typically need to pay out-of-pocket for financial responsibilities that exceed the policy limits of your standard plan. Umbrella insurance coverage can make up the difference so that you do not have to dip into your personal savings to pay for incidents in San Antonio, TX. 

How does a plan work?

Umbrella insurance comes into play after you have used all resources available on your standard insurance plan. Umbrella coverage does not stand alone. 

You would take advantage of your umbrella policy by filing a claim after an incident has occurred. An indemnity specialist at Integrity Advisors Agency LLC can help you understand how claims are evaluated and compensated. 

Is umbrella insurance required?

There are no state mandates requiring umbrella insurance coverage. It may, however, be beneficial to purchase such a policy so you know you are fully covered when the unimaginable becomes a reality. 

The agents at Integrity Advisors Agency LLC can help you with all of your indemnity coverage needs. Call them today to get started with a quote for umbrella insurance.