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Why you might need an umbrella policy

Not everyone needs umbrella insurance, but if you own particular types of property or are concerned about being sued for damages exceeding what typical liability covers, it is something you should consider.

Essentially, umbrella insurance protects your assets and even future income beyond the limits of your primary insurance policies, including those relating to your home, auto and boat. It provides coverage for claims other liability policies may not honor, including slander, libel and false arrest.

Umbrella insurance is also useful for landlords who may face liability claim costs in the event that someone who falls and injures him- or herself on your property sues for damages, among other scenarios.

Typically, coverage limits range from $1 million to $10 million for those who qualify. Rates are often surprisingly low for this extra liability insurance.

To qualify for umbrella insurance, you are required to carry certain coverage limits on your other policies, including homeowners, auto and, if you own a boat, boat insurance.

If you live in the McKinney, Texas area and have questions about your insurance coverage, contact Pierce Insurance Group today.