Before you consider an umbrella policy, it is important to understand what an umbrella policy is. When thinking about an umbrella, the visual is that it protects you from the rain. If you consider all the things that can happen in life to your home or vehicle in the rain, then you understand that the umbrella policy helps to keep you safe and dry. If you live in the McKinney, TX area, Parker Preferred Insurance has an experienced staff who will be happy to share their years of experience helping customers with you.
What an umbrella policy is about is giving you protection above and beyond the amount of your home or auto insurance. This is additional liability insurance, not more coverage to replace your home or car. If someone is injured on your property or by your vehicle or pet, they may decide to file a legal action against you. The legal costs for such an action can be staggering and they can put your current assets and even your future assets in jeopardy. An umbrella policy covers you and all the members of your household. Your home or auto insurance will pay up to the amounts of its liability limits and then your umbrella policy will go into force.
How much of an umbrella policy you need depends on what your assets are. Typically they can be from one to five million dollars. If you have assets, an umbrella policy is right for you.
When you are thinking about whether an umbrella policy is right for you, there are many things to consider. Why not call or stop by the office of Parker Preferred Insurance in McKinney, TX and let us help you to determine the correct coverage for you and your assets. Visit our website for additional information.