Umbrella insurance is something that many people don’t know much about, but it’s an important form of financial protection. So when does umbrella insurance kick in? At Securum LLC, this is a question we get a lot from Bellevue, WA area residents.
Umbrella Insurance Coverage
Umbrella insurance acts as an additional layer of liability coverage that is triggered when your current liability insurance reaches its limit. It’s designed to provide extra protection against large legal claims and settlements when other forms of liability coverage may not be enough. That means it can provide critical coverage if you’re facing a huge claim or lawsuit due to injuries, property damage, slander, libel, or other legal issues.
Typically, umbrella insurance kicks in once your existing liability policy limits are exhausted. This could apply to homeowners or auto insurance policies and other forms of personal liability coverage. When it comes to how much umbrella insurance coverage you need, this depends on your individual circumstances and the amount of risk you face. While minimum requirements vary by state, most companies offer policies starting at $1 million in additional protection and up to $5 million or more.
Ultimately, having umbrella insurance gives you peace of mind so that you can protect yourself from large unexpected expenses that aren’t covered by regular liability policies. Now that you know when umbrella insurance kicks in, you have the knowledge to make an informed decision about whether this type of coverage is right for you.
Give Us A Call
If you have additional questions about whether an umbrella policy makes sense for you, give us at Securum LLC a call today. We proudly serve the Bellevue, WA area and would be glad to answer all of your questions.
