Umbrella insurance is a form of personal liability insurance that covers your assets in the Spokane, WA area and everywhere else beyond the limits of your traditional home and auto insurance policies. It can provide additional coverage against claims that could otherwise be financially devastating.
When exactly does umbrella insurance kick in?
Typically, umbrella insurance kicks in when the liability limits on your other policies have been exhausted. If you are sued or held liable for damages, your regular insurance will cover up to its limit, and the umbrella policy will pay over and above that amount. This extra coverage can be essential in protecting your assets from being wiped out by one major incident.
Umbrella policies may offer broader coverage than traditional policies, protecting a wider range of incidents, including libel, slander, false arrest, malicious prosecution, and more. Additionally, these policies usually don’t come with deductibles like other types of insurance do.
When deciding whether or not you need umbrella insurance, looking at all the factors involved is essential. Consider the value of your assets and whether you could cover them if something unexpected happens. It would be best to consider what extra coverage an umbrella policy might provide should the worst happen.
For more information, or if you have questions about your policy, give us at Western Insurance Associates a call today. We proudly serve the Spokane, WA area and would gladly get you a policy that suits your needs.