Category: Umbrella Insurance

The Risks of Going Without Umbrella Insurance

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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. 

How Can Illinois Umbrella Insurance Cover You During a Lawsuit?

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Coverage for lawsuits and liabilities is the exact reason that umbrella insurance exists. Unfortunately, the world we live in is now a world of liabilities. A slip and fall can derail your financial future, if you don’t have umbrella insurance.

At Green Family Insurance Inc., we want to make sure that Illinois residents are protected from these problems in life. We can help you to design the umbrella insurance policy you need to feel secure against every legal threat.

What Does Umbrella Insurance Cover?

Umbrella insurance covers you for liabilities that occur for which you are responsible and did not intentionally cause. This insurance can provide protection when home or auto insurance liability coverages are capped out.

An umbrella insurance policy can also provide protection against libel, slander, defamation, and false arrests or imprisonment. If these problems happened and someone else is responsible for that damage, you can file suit against them to recoup your financial losses and suffering.

Umbrella insurance is always liability insurance. It will protect you when you are being held liable for a problem.

What Lawsuits Does Umbrella Insurance Provide Protection From?

Umbrella insurance provides protection against certain lawsuits on their own, and when your home, auto, or renters’ insurance doesn’t cover your damages.

The kinds of lawsuits that umbrella insurance covers include:

• Slander – spoken statements
• Libel – written statements
• False arrests or imprisonment
• Malicious or false prosecutions
• Mental anguish
• Other liabilities

It can also cover you for lawsuits related to home or auto accidents. If you have a slip and fall at your home, your renter’s or home insurance liability coverage will pay for that. If you have a car accident you are sued for, you will probably need insurance beyond what your policy provides. An umbrella insurance policy will cover any amounts above those coverage limits.

Protect Yourself With Umbrella Insurance

You can protect yourself from lawsuits with umbrella insurance. At Green Family Insurance Inc., we want Illinois residents to sleep better knowing they are covered when accidents happen. Call us today for a quote on umbrella insurance.

What is Umbrella Insurance?

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You know you need auto insurance to stay legal on the roads in Illinois. And you already likely have homeowners insurance to cover you against the unknown. But do you have enough insurance to protect your family fully? Our team at Green Family Insurance Inc. is here to help you understand how umbrella insurance can give you the peace of mind you need. Keep reading to learn more.

What is Umbrella Insurance?

To put it simply, umbrella insurance is a special type of policy that extends above your existing auto and property insurance liability. This means that if you’re in a severe car accident that you’re responsible for, someone is injured at your home, or there’s another issue that spurs a liability lawsuit, you have the additional protection you need.

Why Is Umbrella Insurance Important?

In today’s society, filing a lawsuit is one of the first things people think to do when injured. If someone has a legitimate or even a false claim against you, it could end up having a huge impact on your financial wellness. With an umbrella policy, you can always ensure you have enough coverage if a situation arises.

Who Needs Umbrella Insurance?

The truth is that anyone who owns a home or has significant assets should consider umbrella insurance. But the need goes much further than that. Those who have businesses, are parents of teenage drivers, or have an extended amount of risk exposure should consider this policy type.

Illinois Umbrella Policies from Green Family Insurance Inc.

Purchasing an umbrella policy is simple. All you have to do is meet with your trusted insurance agency, review your current policies, and answer a few questions. Are you ready to ensure your family is fully protected with umbrella insurance in Illinois? Please contact our team at Green Family Insurance Inc. to schedule your appointment.