Owning a home, car, or small business comes with many responsibilities. Unfortunately, it also comes with an increased risk of financial loss. That’s why it is essential to consider investing in umbrella insurance to protect yourself and your loved ones from unexpected events. Here we will discuss why people choose umbrella insurance in Foley, AL, and why a policy from Southern Risk Associates can benefit you.
What is Umbrella Insurance?
Umbrella insurance is additional coverage that supplements existing auto, home, or business policies. It offers extra liability protection above and beyond what your base policy covers. This type of insurance can help protect you financially if an accident occurs on your property or someone sues you for damages not covered by your primary policy.
Common Reasons People Choose Umbrella Insurance
1. Accidents Happen:
You never know when a slip-and-fall accident may occur on your property or if you accidentally cause damage to someone else’s property. If this happens and the damages exceed the limits of your current policy, umbrella insurance can provide you with additional protection against potential financial losses.
2. Legal Protection:
If you are sued for any reason, an umbrella policy can cover legal fees and other costs arising from defending yourself in court. It can also offer additional coverage if a court awards the plaintiff more money than what was covered by your primary policy limits.
3. Additional Coverage:
Umbrella policies often provide additional coverage, such as libel and slander, false arrest, malicious prosecution, and certain watercraft liability coverage. This means that even if these items are not included in your primary policy, an umbrella policy may still cover them, depending on the terms of the contract.
Give Us A Call
If you want more information about this type of coverage or want to explore options available in the Foley, AL region, contact us at Southern Risk Associates today.