Many of our customers in Twinsburg, OH assume a standard insurance policy will protect them from any and all liability claims against their home or automobile. The truth is, there are some circumstances that your basic insurance may not cover.
It’s these situations where an umbrella policy can truly become your safety net. Quest Financial and Insurance Services has put together this handy fact sheet to help our customers understand the importance of umbrella insurance!
What Does an Umbrella Policy Cover?
This type of policy provides coverage beyond the limit of your basic home, auto, or renter’s insurance. If you are found liable for damages or need to pay legal fees for a claim filed against you, these costs can possibly amount to more than what your standard insurance policy covers. Once the limit is reached on your standard policy, your umbrella coverage can be activated to cover the remaining cost.
Why is Umbrella Insurance Important?
Without this coverage to protect your assets, you could pay out-of-pocket for damages in claims against you. If you do not have enough insurance coverage, your valuable assets become exposed and you could be required to exchange them to pay off a settlement.
Even if the case is ruled in your favor, you may still have legal fees to pay that are in excess of your standard policy limits. Many unfortunate people have faced financial ruin because they did not have enough liability coverage!
We Can Help!
Quest Financial and Insurance Services is now serving Colombus and Twinsburg, OH residents who are interested in umbrella insurance coverage! Contact us today to learn more about the types of umbrella policies we can offer you, and how we can help keep your future financially secure.