Umbrella insurance from DGIA, LLC is a great way to add an extra layer of protection for your finances and legal liability. But does umbrella insurance replace other policies here in the Round Rock, TX area?
The short answer is no, but it can supplement them in many ways.
Umbrella insurance does not take the place of auto, home, or health insurance as those cover specific incidents that occur within their policy limits. Instead, umbrella insurance provides additional coverage if the limits of other policies are exceeded. For example, if you were found legally liable for an accident causing more than $1 million in damages but only had a $100,000 auto policy limit, then your umbrella policy would kick in to cover the remaining costs up to its limit.
Umbrella insurance also covers certain lawsuits and legal fees which your other policies may not include; such as libel or slander lawsuits. In addition, umbrella insurance often covers events that aren’t included in most standard policies like false arrest, invasion of privacy, and malicious prosecution.
Overall, while umbrella insurance cannot replace traditional policies like auto and home insurance, it provides a much-needed buffer to protect your financial interests from unexpected expenses that could be beyond the scope of other coverage plans. That’s why having a good umbrella insurance policy is so important for anyone who has assets to protect.
We Are Here To Help
If you’re considering purchasing an umbrella policy, it’s wise to review your existing policies and speak to an experienced insurance professional. So give us at DGIA, LLC a call today. We are proud to serve the Round Rock, TX area and would be happy to help you find a policy that not only meets your needs but your budget as well.
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