If you have auto or homeowner’s insurance, it’s important to remember that you may not be fully covered for liability claims. The reality is that you could be held liable for the difference if your actions led to someone else’s injury.
An umbrella insurance policy can be a strategic move for individuals who face a particularly high liability risk. When you need umbrella insurance coverage, Deerfield Advisors can provide reliable guidance and expertise.
What Is Umbrella Insurance?
Umbrella insurance is designed to offer additional liability coverage that extends beyond the confines of homeowners, auto, or watercraft insurance. It can help you pay what you owe to a third party if you are at fault for their injuries.
What Does Personal Liability Umbrella Insurance Cover?
A personal umbrella insurance policy is designed to cover a wide range of liabilities that your primary policies may not cover.
While these insurance products offer some degree of coverage against claims related to bodily injury, property damage, and personal injury, you may be liable for the remaining portion. Examples of such insurance policies include the following:
- Property or homeowners’ liability insurance. This insurance policy will cover a portion of the liabilities that you face as a result of an incident that occurs on your property.
- Auto insurance. If a car accident occurs as a result of your negligence, your auto insurance policy will cover a portion of the associated liability costs.
- Watercraft insurance. Suppose you are in an accident that occurs in a jet ski, yacht, or sailboat. In that case, you can expect to receive some protection against third-party claims with this insurance product.
Although incredibly beneficial, these insurance policies will not provide full coverage in the event of a lawsuit. The good news is that you can pursue extra liability coverage that will cover legal fees, medical bills, and settlements, protecting your assets from unforeseen liabilities.
What Does Umbrella Insurance Cost?
On average, you can expect to pay anywhere from $150 to $400 a year for this kind of protection, in addition to auto or property insurance. If you need to buy umbrella insurance in Texas, you can turn to Deerfield Advisors to help you find affordable coverage.
Keep in mind that we can also assist with homeowners, car insurance, and more.
We Give You Access to Reliable Excess Liability Insurance Products
If you need personal umbrella insurance, you can count on Deerfield Advisors to provide reliable, cost-effective solutions. We understand the importance of acquiring comprehensive coverage, and we will ensure that you find a solution that adequately caters to your needs.
To purchase an umbrella policy in Texas, contact Deerfield Advisors today at (281) 550-5864!