Specialty Insurance
Insurance doesn’t just stop at your front door or when you get out of your car. There are many types of insurance for all different areas of life. Whether you are looking for an umbrella policy to protect your family, insure your boat for some fun in the sun, or hit the mountains on your ATV. Specialty lines of insurance are a great way to protect your toys and other lines of insurance.
Individual & Umbrella Policies
Umbrella Insurance
This type of insurance is a blanket of protection that increases your limits of liability (typically by increments of $1,000,000). If you are someone with multiple properties, accumulated wealth, and considerable assets. An umbrella policy can be a great way to ensure that your property and your bank account are safe in the event of a liability lawsuit.
Umbrella insurance is a great way to ensure that in the event of litigation or a very large liability claim against you that surpasses your liability limits (on your home, auto, or specialty lines) you are covered.
Let’s say you have a liability limit of $300,000 on your home and someone files a suit against you for lost wages, medical bills, and other damages for $1,000,000. If that is what the case settles for you could be on the hook for $700,000 dollars. An umbrella policy comes in and helps pay for the difference in coverage from liability claims owed, and coverage you had on your home!
The typical limits on umbrella policies are in the millions and cap around 10 million dollars.
All these types of vehicles are very similar to auto insurance, both in coverages offered, and liability coverages. See the auto insurance tab for questions regarding these types of coverages!