Umbrella Insurance in Texas
Umbrella insurance earned its name by providing a “rainy day” coverage to consumers. The plan is intended to provide coverage once the insured has exhausted the limits on existing policies. Brock Insurance Group, LLC assists Texas residents with finding an umbrella insurance policy that will protect their assets.
The Basics of Umbrella Insurance
In Texas, umbrella insurance plans are designed to extend liability coverage. Umbrella insurance coverage may be added to the current home or auto insurance plans. The plan acts as a security blanket in case the insured is sued over property damage or personal injuries. As an example, if you were involved in a car accident and sued for $750,000, but your insurance caps claim at $250,000, an umbrella insurance policy may help cover the additional $500,000 cost. Umbrella insurance is usually available in million-dollar increments, and typically plans are offered at a low annual premium.
Determining Need for Texas Umbrella Insurance
Certain groups will benefit from umbrella insurance policies. These plans are usually recommended for landlords and those with significant assets. As an example, if you have assets worth over $500,000, you'll want to increase liability coverage to protect your finances. Furthermore, anyone who participates in high-risk activities such as contact sports, skiing, and racing, should consider an umbrella insurance policy. Umbrella insurance policies may cover expenses such as landlord liability, bodily injury, and property damage claims. However, umbrella insurance is usually not used to cover contract lawsuits, loss of personal belongings, or business losses. Keep in mind that the preceding are examples of potential coverage inclusions and exclusions. Each umbrella carrier is different and will provide separate coverage and limits.
Brock Insurance Group, LLC features a team of independent insurance agents serving customers in the Texas area. Contact one of our friendly and knowledgeable staff to receive no-obligation quotes on umbrella insurance policies.
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