Umbrella insurance is a type of insurance that isn't as ubiquitous as homeowner's insurance or automobile insurance, but it is just as essential to have. Everyone should consider purchasing umbrella insurance thanks to its versatility and the multifaceted way it protects the policyholder from a myriad of risks.
Umbrella Insurance from Kubena Insurance Agency
Umbrella insurance is labeled as a type of personal liability insurance and has the primary aim of protecting the policyholder from large lawsuit judgments. However, a Texas umbrella insurance policy won't just enact after a lawsuit is filed. The following is a look at some keyways in which this type of policy can assist you:
- Property damage exceeding primary policy limits - Texas is a fault or tort-based state, meaning if you are found to be more than 50% responsible for any car accident, then you will bear the financial responsibility of the damages resulting from that car accident. If you didn't have umbrella insurance and the damages exceed your primary limits, then you could be suited for the difference. With umbrella insurance, you'll get added coverage that will pay for all damage between the policy limits of our auto and umbrella insurance policy.
- Bodily injury liability exceeding primary policy limits - In the same manner, an umbrella insurance policy will cover medical and associated costs incurred due to your fault or on your property. For example, if you rent and a guest injures themselves falling off your balcony, your umbrella insurance policy will offer financial payouts.
- Protection from libel or slander - If you write or otherwise vocalize something about someone else or some other company and they choose to retaliate, then your umbrella lawsuit will offer the legal aid and financial protection you need to face that suit.
Contact Kubena Insurance Agency to Learn More
The above are some of the most common situations in which an umbrella insurance policy can assist you, but they are not the only situations. Contact our Texas team at Kubena Insurance Agency to learn more.