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Umbrella Insurance

An Inside Look on Umbrella Insurance

What is umbrella insurance exactly? It technically acts as an extra layer of liability protection added to your existing coverages, such as your home insurance, car insurance, and boat insurance. It can act as a backup should your regular insurance coverage reach its brink, or does not provide sufficient coverage, with the added perk of it also spreading over onto your other family members should they be involved in an incident too. Here is another example.

  • ‘Your teen is driving it's raining and gets involved in an accident, which is innocently blamed on bad weather. Woefully, the accident places one of the passengers in the hospital with severe injuries. It is then found out that your teen was texting and driving at the time. The severely injured passenger’s family decided to sue. Instantly not only do you have medical and automobile damages from the accident to pay for, you now have a lawsuit on your hands.’

Your insurance is not going to cover it all. That is where umbrella insurance can save you from this downpour.

Is Umbrella Insurance for Everyone?

The answer is yes. Umbrella insurance can represent a benefit for any Indiana resident. You merely never know what life is going to throw at you. Still, some may be more inclined to benefit from umbrella insurance than others. Such as:

  • Those that have acquired vast savings or assets.
  • Those that host frequents guests and parties.
  • Those that have teenagers driving.
  • Those that have ATV’s
  • Own rental properties

To determine if umbrella insurance might be a recommendation for you, contact one of our informative representatives at Scott Lynch Agency in Greenwood, Indiana today. Serving Indiana and Ohio.