Insurance policies are meant to protect policyholders in the event of an insured risk. However, most of these policies have liability limits and will not take care of any extra expenses that may be incurred. Hathaway Insurance Services goes the extra mile in the provision of services, offering products that help California residents to avoid financial problems when they face unforeseen risks.
Umbrella insurance explained
Umbrella insurance is a type of policy that provides extra liability coverage above the limits of your auto, homeowners, or watercraft policy. This extra layer of security will protect you in case you are sued for causing injuries or damages to another person’s property. Coverage may also be provided for libel, slander, and false arrest.
Who needs umbrella insurance?
The idea behind this type of policy is to protect your assets from a major lawsuit. This means that it would be sensible to buy it if you have assets to protect. Most of the people who purchase the policy are those who own property, have significant savings, volunteers, are concerned about liability claims, or own items that can cause injuries to others.
What the policy covers
In order to protect your current savings as well as your future, it is important to understand what the policy covers. The types of damage that are covered include bodily injury, property damage, legal damages as well as legal fees.
How much umbrella insurance do you need?
The right amount of coverage for any policyholder will depend on many factors. These include where you live, the assets you are looking to protect as well as the risk you face. Other factors that will help you decide the amount of coverage you need are your job, your hobbies, your driving record, and previous lawsuits.
Hathaway Insurance Services is here to help you get the best insurance policy to protect yourself and your property. Our clients in California can use our online rating tool to find a quote for home and auto insurance. If you would like to purchase an umbrella insurance policy, kindly email our office or give us a call to schedule a meeting.