Insurance aims to shield against the fiscal implications of unforeseen incidents. While home, auto, and other insurance policies specifically protect against distinct detrimental events, umbrella insurance offers protection against multiple threats to financial stability, namely unexpected legal and court expenses and liabilities surpassing the limits of standard home and auto policies. Our team at Gill Insurance Agency, servicing Plainfield, IN, is on hand to discuss the various ways umbrella insurance can bolster your and your family’s protection.
Safeguarding Your Potential Liabilities
In most accidents or other circumstances rendering an auto insurance policyholder liable for damages, the policy tends to cover the total liabilities. However, certain accidents could lead to debilitating injuries or substantial damage, resulting in liabilities exceeding the insurance company’s payout obligation. Under such conditions, the policyholder assumes the excess liability, risking their assets, savings, and home. This is where umbrella insurance steps in.
A prominent feature of umbrella insurance consists of covering your liabilities that go beyond the limits set by your basic auto or home policy. Given its targeting of "worst-case" scenarios, umbrella insurance is infrequently utilized. Consequently, due to fewer policyholders filing claims, umbrella insurance policies tend to be relatively affordable.
Umbrella insurance induces peace of mind by offering an additional protection layer to ensure that the assets you’ve worked hard to accumulate are safeguarded against unlikely but catastrophic events.
Partnering with Gill Insurance Agency
Umbrella insurance frequently provides ultimate financial security for families and businesses. If you reside in or around Plainfield, IN, and wish to explore umbrella, auto, or other insurance coverage, the Gill Insurance Agency team stands ready to assist. Visit us or call us at (888) 347-8134 today.
