When you’re shopping for insurance, a lot of terms can be thrown out there. You’ll hear things like deductibles, coverage limits, exclusions, and even umbrella insurance. Understanding what umbrella insurance is can help you when you want to make sure you’re fully covered in Sandy, UT.
With every policy, you have a coverage limit. This goes for auto insurance, homeowner’s insurance, and more. If you file a claim that exceeds the coverage limit, you would be financially responsible for the rest. For example, if you only have $15,000 of property damage liability coverage and the total comes to $25,000, you would be on the hook for $10,000.
You don’t want to go broke because of one accident. This is why insurance agents at The Smith Insurance Group Inc recommend that you have an umbrella insurance policy. Think of it as something you need for a rainy day. You can have a policy that serves as an umbrella over all of your home or business policies. If you exceed the coverage level, your umbrella policy becomes available to take care of the rest, up to the limits of that policy.
Having the insurance policy will cost you more but can serve as considerable peace of mind. The reality is that you can’t afford to not have it. There’s never any way to guess what’s going to happen, so the best thing that you can do is to prepare for the worst-case scenario, whatever that might be.
We’re here for you every step of the way. At The Smith Insurance Group In,c. we’re able to work with you to ensure that you have the coverage that you need in Sandy, UT. This way, if there is a major incident at home or with your business, you’re prepared with an umbrella policy.