Umbrella insurance is a means over covering multiple aspects of your life under one insurance plan. It can be used for either personal means or businesses and is completely customizable to your needs. If you add all of the options to your personal umbrella plan, you can have many aspects of your life covered. There are some things that are not covered by umbrella plans so you won’t ever be completely covered. You can shop around for a complete umbrella plan in Pismo Beach, CA with Neff & Associates Insurance Services Inc.
When Will I Need Umbrella Insurance?
If you get involved in an accident, there may be multiple aspects involved other than automotive damages. If your policy covers damages and medical bills for the other driver up to a certain limit, you may be on the hook for damages beyond that limit. The other party may also add in extra damages from lost wages or damage done to personal items. This is an example where umbrella insurance is useful as it can cover damages beyond the limits of your policy. Other examples may apply to your home insurance or business insurance.
What Will Not Be Covered?
Your personal belongings will not be covered under such a plan. If you have agreements in written or oral contracts, disputes from them will not b covered. Damages from criminal acts may also not be covered in many policies.
How Much Coverage Will Be Needed?
Since umbrella insurance is designed to go beyond your current insurance policy, coverage amounts between $1 million to $5 million are not unheard of.
Consider your current assets and how much is at stake in your life. If you live around Pismo Beach, CA, consider consulting with Neff & Associates Insurance Services Inc for an affordable plan.