What would you do if you lost a court decision for slander, libel, or anything else? Depending on your lifestyle and your occupation, this might not be an outlandish scenario. There are hundreds of ways an outside actor could put your assets at risk. Unfortunately, your commercial or home insurance may not cover all of these events. Ask your Rising Star Insurance agent how you can protect your Saint Paul, MN home and business with umbrella insurance today.
How it Works
Umbrella insurance covers you if you have to pay damages due to a legal judgment. If someone sues, umbrella insurance can pay for your legal costs or court costs you are ordered to pay, thus protecting your assets. When you protect your wealth, you’re ensuring the future for your spouse and children who still depend on you or protecting your legacy for future generations.
Umbrella Insurance Coverage
Once your basic liability insurance is exhausted or if it’s an event that’s not covered by your basic liability insurance, the umbrella policy kicks in. A claim is made against you as a policyholder, then your insurance will pay a settlement not exceeding your total coverage. You’re responsible for paying the rest.
Without umbrella insurance coverage, you could lose your house, car, investments, and retirement accounts. If your business is subject to this risk, umbrella insurance provides protection for your family against the loss of your business, home, and other assets.
Feel free to call your Rising Start Insurance agent at 651-379-2788 for your umbrella coverage and other insurance needs in Saint Paul, MN. Feel free to ask any questions you may have and make an appointment for a quote. Your agent can help you with questions on other types of insurance as well.