Umbrella Insurance in Texas
Umbrella insurance is a liability insurance policy which protects you and your assets from expensive lawsuits which can be filed against you. This policy will provide liability coverage which is above your standard homeowner, boat, or auto policy and also from claims which are above your basic liability policy limits. If you have a homeowners or auto policy, it is easy to wonder whether an umbrella policy is necessary.
Advisably, you should consider this policy if you own valuable assets and property. By using Thompson Insurance Services, located in Highland Village, TX, you can get the following umbrella insurance benefits:
Benefits of Umbrella Policy
Some of the benefits you will get from an umbrella policy includes protection from:
- Extensive property damage: your standard home or auto insurance can be exhausted if you are liable for an accident which leads to the destruction of your car or property.
- Serious bodily injury: The homeowner's insurance policy may not be sufficient to cover your medical costs when the sustained injuries are serious. You may also have to pay extra costs if a guest gets injured while in your residence.
- Landlord Liability: One of your tenants can file an expensive lawsuit against you due to injuries sustained while staying in your property. With umbrella insurance, this liability may be catered for fully.
- Slander or Libel: You can face a lawsuit because of an abusive or implicating statement directed to another individual, and in turn, you can suffer extensive financial loss if you are not properly covered. Umbrella insurance comes in handy in case of such liabilities.
- Malicious Prosecution: In some scenarios, you can file a lawsuit against an individual wrongfully or due to malicious intentions and then end up being prosecuted for the same. Without umbrella insurance, you are likely to suffer financially.
- In all the examples above, you will get a certain portion of liability coverage from your homeowner's or auto insurance, but it might not be enough to settle all the financial claims. As such, you should consider purchasing an umbrella insurance policy. If you are a Texas resident, you can visit Thompson Insurance Services, which is based in Highland Village, TX, for your insurance needs. Speak with our agents to learn more.