Umbrella policies can provide the provide you need when you most need it. When you secure an umbrella policy, it won’t activate until other policies have reached their coverage limits. This can be invaluable if, for instance, someone is injured on your property due to your expenses. In this scenario, your home or commercial insurance will go into effect. If their medical or legal expenses exceed what is covered in that policy, the umbrella insurance goes into effect. Another example is the destruction of your home or business during a natural disaster. The base policy will help you repair or rebuild. If expenses exceed what is covered, you are responsible for the additional funds. In either of these examples, the additional funds could be financially devasting. An umbrella insurance policy can protect against these situations by providing additional funds when they are needed. Our agents at Rising Star Insurance in the Saint Paul MN area are ready to talk with you about your options.
Umbrella insurance is simply a financial tool that is designed to protect home and business owners. In the instance of someone being injured at your home, your home insurance policy may pay out $300,000 to cover their expenses. If their expenses exceed that amount, you will be responsible for the additional monies. When an umbrella insurance policy is put in place, the additional expenses and your assets are protected.
In the Saint Paul, MN area, our team at Rising Star Insurance can help with any of your insurance needs. They will provide information so that you can decide if umbrella insurance is right for your family or business. We’ll provide information about your options so that you can decide if it is the best option for you. We want you to be adequately protected. Give us a call today!