Umbrella insurance was designed to provide an extra layer of liability protection on top of primary policies like home and auto insurance. Lawsuits in Charlotte, NC can be pretty expensive. They can easily lead to significant financial losses if you are not adequately prepared. Here are three things you probably don’t know about umbrella insurance.
1. Not ALL lawsuits are covered
While umbrella insurance mainly works on liability, not all lawsuits are covered. Once your home or auto insurance limits have been reached, Umbrella insurance can come in and take care of the rest. However, the policy may not cover you if the act was found to be intentional or criminal. That means acts such as sexual harassment, intentional bodily harm, property damage or damage and injuries that result from too much intoxication are not covered. Umbrella insurance is designed to protect you from lawsuits that result from accidents, not malicious acts.
2. Some dog breeds are NOT covered
Dog bites are quite common in Charlotte NC but pretty expensive to treat. It’s even worse if you’re sued. Fortunately, umbrella insurance can cover dog bites, BUT not all breeds are covered. Be sure to ask any Kempton Insurance Group about the breeds covered to know if your pet is covered or not.
3. Certain risk factors can impact your coverage
The most attractive part of umbrella insurance is a liability. Some people are at a higher risk of getting slapped with a lawsuit than others. Remember, you can be sued for many reasons, including injuries, property damage, threats or giving wrong information, false advertisements, and many other reasons. Depending on your risk level and type, you may want to buy umbrella insurance if you are a landlord, own dogs, travel regularly, own a swimming pool, gym, or trampoline, or entertain visitors more often.
At Kempton Insurance Group, we care about you and what matters to you most. That’s why we go out of our way to ensure you get an insurance policy that will protect your assets and loved ones. Feel free to call or visit us today!