The Risks of Going Without Umbrella Insurance

As an insurance company serving the states of Illinois, Florida, and Missouri we at Green Family Insurance Inc. highly recommend considering umbrella insurance as part of your overall insurance portfolio. While many individuals may have a basic understanding of homeowners or auto insurance, these policies may not entirely cover all the liabilities you may face. Going without umbrella insurance can expose you to significant financial risks that may result in devastating consequences.

The Limitations of Other Types of Insurance Coverage

Homeowners and auto insurance policies have coverage limits that may not be sufficient to cover a severe incident. For instance, if you’re involved in a multi-car accident, your auto insurance may fail to cover all the damages, leaving you with unpaid balances. Similarly, your homeowner’s liability limits may not be enough to pay for an unexpected injury that occurs inside your home or on your property.

The Benefits of Umbrella Insurance: Protecting Your Home and Assets

Umbrella insurance provides blanket coverage that protects you from major liability risks which are not covered by other types of insurance. It’s an extra layer of protection that can safeguard your home, car, savings, investments, and future earnings. In the event of a lawsuit or accident, umbrella insurance can cover the costs of legal fees, damages, and judgments.

Understanding Liability Risks and Your Potential Exposure 

Liability risks are prevalent and can occur anytime, anywhere, and to anyone. For instance, if your dog bites someone, you may be liable for injuries and medical expenses. If someone slips and falls on your property, you may face a lawsuit that could financially cripple you. Without umbrella insurance, you may be forced to pay for any costs that exceed the limits of your other insurance policies.

We Are Here To Help!

Umbrella insurance is an essential component of your insurance portfolio that can protect you from unexpected liabilities that may arise. At Green Family Insurance Inc., we offer a broad range of insurance products to serve those living in the states of Illinois, Florida, and Missouri that can help you mitigate your risks and enjoy peace of mind.