At Stanley Insurance Group, many of our new and existing clients have inquired about umbrella insurance policies that are available in Hilliard, OH, and the surrounding area. When you work hard and build wealth, you shouldn’t have to worry about starting over because of a lawsuit that your home or auto policy doesn’t cover. It’s vital that you have protection against an incident that could take away your wealth and cause financial strain.
If you think that you may need an umbrella insurance policy, here is a list of the pros and cons of obtaining a policy.
The Pros of an Umbrella Insurance Policy
What exactly does umbrella insurance cover? Not only does it protect you from expensive lawsuits and claims that your insurance premium can’t fully cover, but it also protects from the following specific things.
- court costs
- property damage
- reputation damage
- bodily injury
Cons of Umbrella Insurance Coverage
In reality, there aren’t many bad things about having an umbrella insurance policy, especially if you have accumulated any assets. However, here are some things to consider that an umbrella insurance policy may not cover.
- criminal acts – this refers to any crimes that you or a household member has committed
- flood damage
- personal property
- contracted work injuries
Next Steps in Getting Your Umbrella Insurance Policy
If you are purchasing an umbrella insurance policy, you will need a homeowner’s policy and an auto insurance policy in order to add it to an existing policy. Getting a stand-alone umbrella insurance policy is very unusual. When you work with Stanley Insurance Group in Hilliard, OH, we can help guide you through the process of obtaining a policy and making a claim. Our blog has a lot of useful information, or give us a call at 614-876-1224.