Accidents happen in homes every day. Someone can unexpectedly trip and fall or break an arm. But, if there is a pool or a trampoline, the risk level for homeowners increases. Homeowners manage their risk with insurance policies so they can repair damages and have liability protection. Homeowners’ policies have caps to the amount that they will financially cover. When that is reached, the homeowner is responsible for any additional expenses. An umbrella policy provides additional financial protection when the other coverage is done. In the Salt Lake City, UT area, the agents at M8 Insurance will answer any questions that you have about your current policy and whether the protection of an umbrella policy is a good idea for you and your family.
Insurance, particularly umbrella policies, provide significant protection of your assets. Consider if someone were to slip and fall beside the pool breaking their leg. If you are found liable for the accident, you’re responsible for their medical expenses. If they pursue their right to sue you, you could be accountable for their legal fees as well. Your homeowner’s policy will cover these costs. However, if your policy only covers up to $250,000 and the costs are $400,000, you’ll have to pay the balance out of your pocket. An umbrella policy goes into effect when the underlying policy is exhausted. This is much needed financial protection when you most need it. They also provide coverage in cases of invasion of privacy, libel/slander, things other policies don’t usually cover.
The team at M8 Insurance understands that you need adequate coverage that you can understand but don’t want to over-insure. Call or visit us in Salt Lake City, UT today to get all of your insurance questions answered and a quote. Protect your home and family today!