What is umbrella insurance and why do I need it?

Liability insurance is something that protects you from legal actions against you. Suing is at epidemic proportions and the chances that you will be sued at least once in your lifetime are very good. Very good is the wrong way to express this since getting sued is anything but good. Manteca Insurance & Financial Services in Central Valley, CA is committed to providing personalized customer service and a lot of choices.

Umbrella insurance is excess liability coverage. It can be added to any policy that you already have with liability coverage. Many policies have liability coverage including auto, home, condo, renters, boat, RV, and motorcycle to name just a few.  You can’t just buy umbrella insurance unless you already have a policy with liability coverage. 

Many people think that you need to be wealthy to benefit from an umbrella policy. Nothing can be farther from the truth. No one is immune from having a civil suit filed against them. About 10% of homeowners are sued yearly, and you have about one in three chances of being sued in your lifetime. 

Civil suits can be very expensive to fight legally and the size of judgments has been growing. Depending on the amount of liability coverage you have on your primary policy, you could be sued for more than your maximum. That is where the umbrella comes into effect. After the initial amount is maxed out, the umbrella will continue to cover up to the limit of the umbrella. It protects your assets from being attached to pay for a suit against you. It could make all the difference when it comes to protecting what you have worked so hard to accumulate. 

Contact Manteca Insurance & Financial Services in Central Valley, CA when you are ready to discuss umbrella insurance and how you can benefit from it. 

Who should buy umbrella insurance in California

You buy insurance policies to protect various aspects of your life, such as your home, businesses, and vehicles, but have you ever thought about a policy that focuses on you? Personal umbrella insurance is designed to protect you, your family, and your assets, especially in the event of a lawsuit. If you live in Central Valley, CA, you may want to consider purchasing umbrella insurance for the following reasons.

You Are Driver

Many things can happen when you are behind the wheel, and sometimes it doesn’t matter how skilled you are because you never know who you will meet on the roads. It could be a careless or uninsured driver. That’s why Manteca Insurance & Financial Services recommends buying both umbrella and auto insurance. If your auto insurance policy gets depleted, umbrella insurance can come in and settle the rest.

You Are a Parent To a Toddler, Teenager, or Pet Owner

If you have children in your home, you can easily find yourself facing harsh lawsuits for accidents such as car scratching, breaking a neighbor’s window, your dog biting your neighbor, or your child beating other children in school. For this reason, you want to make sure that your umbrella insurance can save you and your family.

You Interact With People

If you are a social person, the chances are that there will be conversations that won’t go well. Whether you are chatting on Facebook, Twitter, or face-to-face, insulting someone can land you into serious trouble for slander, libel, or defamation of character. You will need umbrella insurance to pay your defense fees and other legal fees.

You Own Businesses and Property

You are responsible for anything that happens at your business premises or property. Besides the typical slip and fall, more sinister accidents can happen, such as a person being killed, fire, or theft.

For more information about umbrella insurance, contact Manteca Insurance & Financial Services in Central Valley, CA today!