Umbrella insurance is not common in discussions but is beneficial by adding a layer of protection to meet insurance needs. Umbrella coverage is a secondary layer of insurance and acts like an “umbrella” to protect you and injured parties. The coverage is in addition to other insurance like auto, renter, and homeowner insurances.
Umbrella insurance adds liability protection.
If you are in a situation where you are liable for someone’s injuries and claims, an umbrella policy is beneficial. After using all available primary insurance coverage, the umbrella policy kicks in to protect you and your assets from excess liability. That means if someone suffers injuries due to your actions, the umbrella policy helps take care of the injured party beyond your primary insurance limits. Additionally, the insurance protects your assets from liability claims and/or lawsuits.
Umbrella insurance helps with excess damages.
If you suffer severe injuries due to someone else’s negligence, ensure your attorney asks about umbrella coverage on the at-fault party. For example, you are in a car accident suffering severe injuries and there is not enough auto insurance to cover your medical bills and claims. An experienced attorney will conduct research for umbrella coverage on the at-fault party. The additional insurance can be helpful recover losses due to the accident.
Ways it will help with other claims.
In addition to liability protection, umbrella coverage may help with “legal fees, false arrest, libel, and slander“. The coverage can be helpful to protect you in the event of a lawsuit.
Adding the coverage to your insurance will help injured parties in case of serious accidents. It is important to plan ahead in case of an accident.
The Merdes Law Office has helped injured Alaskans for more than 30 years, it’s who we are. And while we hope you never need us… We’re here if you do.
