Sensible folks like us in Quakertown, PA don’t want to waste money. Before you get into a contract where you’re handing over cash, you want to know exactly what you’re getting and how it’ll benefit you. To help you determine whether or not an umbrella insurance policy is sensible for you, R&R Insurance Group LLC has 3 example scenarios where one would be a wise purchase.
1. You Cause a Serious Auto Accident
Even with the maximum liability limit on an auto insurance policy, a significant accident caused by you or a dependent can result in you being liable for hundreds of thousands of dollars or more. Umbrella insurance’s higher limits work after your auto insurance, raising your maximum protection to an amount that can handle all but the most severe jury rewards.
2. You Are Involved in a Hunting Accident
If you go on a hunting trip with your friends and cause an accident ranging from causing property damage to injuring a fellow hunter, your typical coverage like homeowners’ insurance and auto insurance won’t apply. Umbrella insurance will charge a small fee that works like a deductible in cases where your other insurance doesn’t apply, then it will help you repay any damages up to the limit.
3. You Lose a Long Legal Battle
You may have to pay for both sides’ attorney fees after a protracted legal battle. At hundreds of dollars an hour, those fees quickly escalate into the thousands. Your other insurance may not provide any assistance, either. Umbrella insurance can pick up the fees, so you don’t have to weigh the risk of a lost lawsuit against pursuing justice.
Umbrella Insurance Can Do Even More
We at R&R Insurance Group LLC hope these three sample scenarios help Quakertown, PA residents and other consumers get an idea of what benefits umbrella insurance brings, but there are plenty more to discuss. To find out your options and the specifics of each policy’s coverage, contact us or your agent today.