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Umbrella insurance is an extra level, or layer of insurance, that protects your property and assets from a huge financial loss that could happen if you were on the bad end of a big insurance claim. Not everyone needs umbrella insurance, but many people do. To find out if umbrella insurance is a good idea for you, visit our agents at Chastain Agency Inc. in Gainesville, GA.
If you are about to retire, for example, you will be counting on your retirement savings and other sources of income. If someone is injured on your property, you could be liable for a huge settlement that could wipe out your savings and assets entirely. In Georgia, you could be liable for a lot of money, and you may never recover. This is why umbrella insurance was created.
Umbrella insurance is extra liability coverage. You already have some liability coverage in your home or automobile insurance. This is aimed at larger claims that can get into the millions of dollars. Umbrella insurance adds to the liability coverage you already have and pays above those limits. It can also cover you for things not covered by most policies, such as slander, false arrest, or liability on rental properties you might own. There are a plethora of things that you might not have thought of that can be protected by an umbrella policy.
The greater point in having this type of coverage is to protect your assets when there is a major claim against you. This umbrella can cover you from the problems that might try to fall into your lap.
Come and visit our agents at Chastain Agency Inc. in Gainesville, GA to learn whether umbrella coverage is something you would be interested in pursuing. We realize one size does not fit everyone and having a local agent who understands that can help you get exactly what you need.