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We can all tolerate a bit of rain from time to time, but when it starts to pour, it is not long before we reach for our umbrella. While we might not need it often, it is always reassuring to know that we have one available if it is needed. This is how to look at a Panama City Beach umbrella insurance policy.
All insurance policies have limits. Whether it is a primary home, business, or auto, you will find that the claim amounts are not limitless. The issue is that these limits can land you in very hot (and expensive) water if a claim is made against you.
Checkout our free downloads and video explanation below. They are a few real-life examples on how an umbrella policy stepped in and saved these policyholders from financial ruin:
Taking a Gamble on Limits
In most cases, the limits on your insurance policies are adequate. However, there are always exceptions. If you are involved in an accident, or if someone is injured in your vehicle or on your property, they can sue you for damages. Whether you are liable or not, these types of claims quickly ramp up in cost and will swiftly overtake the limits set out by your insurance provider.
For example, you are driving your car, and you hit another vehicle. There are four people in the other vehicle, and they are all injured in the crash. They hold you liable for the incident and file a claim against you. The claim costs add up quickly to $300,000. Your auto insurance policy, however, only provides coverage up to $100,000.
In such instances, one person is responsible for the excess amount that needs to be paid: You.
Just as in our example, these types of claims can run into hundreds of thousands of dollars. Is this a tab that you can afford to pick up?
The real danger is that being lumped with such a huge bill can leave you bankrupt. You can lose your home, car, and other assets if you cannot afford to pay for them.
Therefore, we have to ask, is leaving yourself exposed to these limit breaches a gamble you are willing to take?
Umbrella Insurance Policies
Knowing that limits exist on your insurance policies can make you feel exposed and vulnerable to claims. It is understandable that you would want to find a way to better protect yourself. The good news is that you can.
Just like a real umbrella, Panama City Beach umbrella liability insurance is there to protect you on a rainy day. Its purpose is to provide an extra layer of protection over and above your existing policies. Should a claim be made against you for personal injury or property damage, the umbrella policy will provide coverage if the claim exceeds the limits of your home, auto, or business policy.
An umbrella policy can provide up to an additional 1-5 million dollars coverage on top of the existing limits on your insurance policies. That is a huge safety net. In most cases, an amount of this size would provide adequate coverage when you need it most.
Additionally, the umbrella policy may include additional coverage for:
• Legal Defense
• Present and future earnings
• Rehabilitation
• Re-training
The umbrella policy can even provide benefits if the policy holder is injured by an uninsured or under-insured motorist.
A Panama City Beach Umbrella Insurance Policy with Harris Insurance
While there are many brokers in the Panama City Beach area that provide umbrella coverage, it is important to go with one that has a great reputation. Umbrella insurance needs to be reliable. Harris Insurance can help you get what you need.
Based in the Florida area, we have been serving clients since 1965. We help clients find all types of insurance, from 150 A-rated national companies, including a Panama City Beach umbrella liability insurance policy. Our experienced team works with our clients on a one-on-one basis to find the best policy that fits their needs at a competitive rate.
If you are still not sure, then take a look at the plethora of five-star reviews that we have gained on independent review sites. Our reputation is important to us, because it tells you that you can rely on us to be there when you need us. If you are looking for a reputable and trusted insurance brokerage, please contact us today.
Looking for a Panama City Beach Umbrella Insurance Quote?
Contacting us Harris Insurance is easy. If you are ready to receive a Panama City Beach umbrella insurance quote, head to our contact page where you can click to call, email or text. A team member will respond to you as soon as possible to answer your query. Alternatively, you can also call (850) 244-2111 to speak to someone directly.
Do not leave yourself exposed, purchase umbrella insurance today. A Panama City Beach umbrella insurance policy will protect you from expensive liability claims. Our dedicated team will work diligently to make sure that you have the coverage you need for peace of mind.
