Those shopping for insurance who are interested in the most complete protection possible should consider an umbrella insurance policy.
Such policies are designed to provide protection above and beyond usual circumstances. They shield policyholders from catastrophic financial events, such as being sued by a neighbor or guest for more than your homeowners insurance limits, your dog bits someone or you exceed your auto insurance coverage damage limits.
Essentially, when your primary insurance coverage, whether it is for your home, auto or even boat, is exhausted, your umbrella insurance policy will bridge the gap. Typically, umbrella insurance coverage limits begin at $1 million and range up to $10 million.
Determine how much umbrella insurance coverage you need by adding up the total worth of your assets. Next, total the maximum liability coverage on all your insurance policies. If the latter does not cover the former, you should consider obtaining an umbrella insurance policy, which will apply to all your assets, including your home, motor vehicles, boats and other items.
If you are interested in learning more about an umbrella insurance policy, contact Gant Insurance Agency, Inc. of McKinney, Texas, to speak to an umbrella insurance specialist.