Sometimes, you can have insurance in place but have so little of it that you still have to pay out of pocket after the policy has been maxed out. Because this is so common, more and more people are getting umbrella insurance policies to give themselves some extra coverage. If you're interested in adding to your insurance policies, call us at Balanoff Enterprise LLC in Illinois.
LIability is a significant type of insurance, but many people don't think much about it. It's often only after an accident that people find out they don't have much liability coverage in their home and auto policies. However, adding more liability coverage to your home and auto policies can be prohibitively expensive. Luckily, there is another option for getting more liability coverage without paying those high prices.
An umbrella insurance policy adds to both your home and auto policies. It adds more liability coverage for each of them. If an accident or other incident results in injury or sickness, the first insurance policy, home or auto, will pay up to its maximum coverage. Then, the umbrella policy kicks in. It pays over and above the amount of liability your first policy paid, allowing you to avoid paying overages out of pocket. This is a major protection for your financial future. Having this insurance can protect your assets when there is a serious accident requiring high-cost medical bills to be paid for third parties.
If you want to add to your liability coverage with an umbrella policy, give us a call at Balanoff Enterprise LLC in Illinois. Make an appointment to talk to an agent to find out more about these helpful policies and how much umbrella protection you may need.