Personal Umbrella Insurance, or Excess Liability, is designed for cases in which an accident or similar claim exceeds the coverage, and offers additional funds to come in to cover any amount above the normal value. Although umbrella insurance policies use to be costly, it might be even more costly not to get umbrella insurance.
Consider the cost of an accident, there may be the high costs of medical treatment from a hospital, the lost wages from not being able to be at the job, as well as the possible mental therapy. This is not to mention all the legal ramifications that results from dragging out the eventual court case. Sadly, liability insurance can only cover so much, and if costs of it all exceed the coverage, an umbrella insurance policy is really the only cure.
If you have assets to protect or a potential legal liability in connection with any insurance claim, we recommend purchasing a minimum of a $1,000,000 umbrella insurance policy.
It is important to compare insurance policies and read the fine print to determine the best way to provide for your insurance needs. Call our Denver, Colorado office today for a quote. 303-759-4976
