Colorado Umbrella Insurance
No one expects that it can happen to them. They have home insurance, made sure to have their car, and other vehicles covered. But sometimes the liability is not enough, and it is for times like these that many have purchased umbrella insurance. Like its name implies, umbrella insurance covers liability or damages that are over and above standard homeowners, auto, boat or other insurance policies. Whether you live in Denver or Delaware, everyone should look into having umbrella coverage.
How it worksUmbrella insurance covers issues of liability and negligence that homeowner’s or auto insurance may not be able to cover fully or not at all. For example, if you were unfortunate enough to be at fault in a collision and someone is injured but you don’t have medical coverage that covers all of their claims, umbrella insurance will kick in to cover that additional amount. Depending on the insurer, umbrella insurance policies can provide an extra $1-$5 million, on top of your original policy. Unlike excess insurance, it covers liabilities that are not covered under the original policy, giving an extra level of security and peace of mind.
As one of Denver’s best independent insurance agencies, we know how important it is to have adequate protection and insurance coverage. Umbrella insurance is not just for the wealthy; with the rising costs associated with going to court, umbrella insurance can provide protection for those that need it most. It can be used to help cover legal costs, including hiring a defense lawyer and damages, if they are awarded. It can also cover lost wages and pay for rehabilitative treatment as well.