What You May Not Know About Umbrella Insurance

Most of us have cars and live somewhere. That means we need auto insurance and homeowners or renters insurance. You might even have life insurance, which is a smart move for any stage of your life. You’re probably familiar with some or all of those things, but you might not be as familiar with umbrella insurance.

One aspect of umbrella insurance is that provides a measure of extra measure of coverage when your policy limits aren’t enough to cover damages from an accident. For example, if your policy limits in an atfault accident are $100,000 but damages exceed $100,000, you will be expected to come up with the difference. If you have an umbrella policy, you may be covered for the difference. That’s only one example of the coverage the policy provides.

Here’s the really surprising thing most people don’t know about umbrella insurance: It can provide coverage for you and the members of your household if you are sued for personal injury to others, bodily injury, property damage, defamation, landlord liability and false imprisonment.

Besides paying any damages you might be liable for (up to policy limits), umbrella insurance can also cover your legal fees tied to the lawsuit.

Personal lawsuits can be upsetting and embarrassing. Although an umbrella policy won’t prevent personal lawsuits, it can certainly help mitigate damage to your personal finances. It’s a wise use of your insurance budget that you hope you’ll never need to use.

• Bella Vista: Scott Comiskey 479-855-7774

• Bentonville: Matthew Hillis 479-273-7793

• Rogers: Sean Garrison 479-621-0555 and Derek Wardlow 479-631-0899