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Many people in Oro Valley, AZ, associate umbrella insurance with individuals who have a high net worth. This perception makes sense, as umbrella insurance can help cover costs from lawsuits, such as defamation cases, and protect valuable assets. However, umbrella insurance isn’t just for the ultra-wealthy—it can benefit everyone.
What Is Umbrella Insurance?
Umbrella insurance is a type of personal liability insurance designed to protect your assets in the event of a lawsuit. While it’s commonly associated with defamation cases, umbrella insurance can also provide coverage for homeowners and individuals involved in car accidents.
How Can Umbrella Insurance Help You?
Every day, people often face lawsuits for various reasons. For instance, someone could sue you if they slip and fall on your sidewalk. Similarly, if you’re at fault in a car accident and your auto insurance doesn’t fully cover the damages, umbrella insurance can step in to cover the remaining costs.
For example, if a car accident results in $45,000 in property damage and your auto insurance only covers $15,000, umbrella insurance can help cover the remaining $30,000. Additionally, umbrella insurance can cover legal fees, ensuring you have professional representation without having to navigate the justice system alone.
It’s important to discuss your policy with an agent at Old Pueblo Insurance to understand your coverage and how it can protect you.
At Old Pueblo Insurance, we aim to dispel the misconception that umbrella insurance is only for wealthy individuals. Our knowledgeable representatives can help you determine whether umbrella insurance is right for you. Contact us today to learn more. We proudly serve the Oro Valley, AZ, area.
