Is umbrella insurance only for the wealthy?

When it comes to misunderstood insurance, nothing compares to umbrella insurance. The only people who understand it are those that already have it and insurance agents. At Maple Mountain Insurance Services in Mapleton, UT, our team of insurance professionals has years of insurance experience that they love sharing. As independent agents, we can provide more choices and the best rates. 

What exactly is umbrella insurance? It is not a stand-alone insurance policy. It is the type of policy that is added to one that you already have. The policy you already have must have a liability component since umbrella insurance is an excess liability. That means, in simple terms, that your policy, whether home or auto insurance, will pay for a liability claim against you up to the limit on your policy. At that point, the umbrella insurance kicks in. The beauty of an umbrella policy is that you only need one to cover all the other policies with liability coverage. 

Most basic liability on your policies may not be very high. If you have assets you need to protect, you don’t need to be wealthy to benefit from umbrella insurance. With the size of judgments these days and the cost of legal expenses, it doesn’t take much to go past the coverage you likely have. If you have worked hard to earn what you have, umbrella insurance, which is quite affordable, is the perfect way to safeguard your savings and possessions. 

Contact Maple Mountain Insurance Services in Mapleton, UT with any questions about umbrella insurance. It is the type of insurance that anyone who owns anything can benefit from. You can reach us on the phone or stop in at our office.