Everything You Need to Know When Buying Umbrella Insurance For the First Time

Are you considering adding an extra protection layer to your insurance plan? At Insurance & Financial Services Inc., serving the greater Baton Rouge, LA region, we often recommend umbrella insurance for those seeking comprehensive coverage. If you’re considering this for the first time, here’s what you need to know.

What Is Umbrella Insurance?

Umbrella insurance is like a safety net extending beyond your standard policies’ limits. It provides additional liability coverage, protecting you from major claims and lawsuits. This can be particularly useful if you have significant assets or potential risks exceeding your coverage.

Why You Might Need It

Accidents happen, and sometimes, costs can spiral beyond your regular insurance limits. Whether it’s a severe car accident or an unfortunate incident at your home, umbrella insurance ensures you’re not left financially vulnerable. It covers legal fees, medical bills, and other expenses that could otherwise impact your savings.

How It Works

Umbrella insurance kicks in after your primary insurance limits are reached. For example, if your auto insurance covers $300,000 in damages and you’re liable for more, your umbrella policy can cover the excess. This additional coverage gives you peace of mind in unpredictable situations.

Getting Started

When purchasing umbrella insurance, assess your assets and potential liabilities to determine the coverage you need. Our experienced agents at Insurance & Financial Services Inc. can guide you through the process and help you choose the right amount of coverage.

Understanding umbrella insurance is crucial for protecting your financial future. Contact Insurance & Financial Services Inc. in Baton Rouge, LA for personalized advice and a quote tailored to your needs. We’re here to help you every step of the way.