You may have never heard of umbrella insurance coverage before, or have an impression that it is just for the rich. However, everyone can benefit from an umbrella policy purchased through an independent agent in Coppell, Texas. Before you call us to get quotes from top insurance providers, take a few minutes to learn why you may benefit from getting an umbrella policy.

What is an Umbrella Policy?

Although its name may suggest otherwise, this policy doesn’t provide insurance to fix your umbrella that breaks on a windy, rainy day. Instead, it is a liability insurance policy that makes payments on your behalf when you are deemed liable for damages in a wide range of situations. Because it applies in so many situations, it’s called an umbrella policy, overlapping with car insurance, homeowners insurance, renters insurance, and other policies. You generally need to have the maximum liability coverage available through each of these policies, usually $250,000 or $300,000, before you are eligible to purchase additional coverage.

What Types of People are Most Likely to Need an Umbrella Policy?

Your umbrella coverage will go into effect if you are required to pay for damages beyond the liability limits of the other policy in effect, whether it’s your car or home policy. Damages may be due to a very large auto accident that has caused very serious injuries to others, or severe injuries people have incurred in your home or on your property. Trampolines, swimming pools, teenage drivers, and dogs are several major liability risks. If you have any assets at all to protect, whether it’s a home, savings, or other types of assets, you may want to take out an umbrella policy to help pay for damages in a large claim.

Contact us today to have an independent agent in Coppell help you understand umbrella coverage and get quotes for policies. You may be surprised to learn how inexpensive several million dollars of coverage can be.