When is umbrella insurance a necessity?

For people that are in the Gurnee, IL area, having the right level of insurance in place is very important. For many people, one type of insurance that needs to be considered is umbrella insurance. This type of insurance will provide you with additional liability coverage. There are several situations in particular when having umbrella insurance would be beneficial.

Not Enough Liability Coverage

One situation in which you will want to have umbrella insurance is when you do not have enough liability coverage through your base policies. Most people will have some liability coverage from their home and auto policies. However, the liability coverage limits in these policies is often not high enough to cover all accidents and losses. When you have umbrella insurance in place, it will provide you with additional coverage on top of your existing policies.

At Risk for Other Liability

Another reason why some people should get an umbrella insurance policy is because they have liability risks that may not be covered by normal insurance policies. For example, someone that is a reporter may be at risk of being sued for libel or slander. Other people that are known to be wealthy could also be considered higher liability lawsuit risks. For these people, having additional liability insurance in place at all times is a necessity to protect their personal assets. 

If you are in the Gurnee, IL area and think that you could use additional liability insurance protection, speaking with Statewide Insurance Solutions is a great option. The professionals at Statewide Insurance Solutions will be able to help you better understand your risks and umbrella insurance options. The company can then help you get into a policy that provides you with the right level of protection.