Umbrella insurance is an important addition to your insurance portfolio. Many people don’t really know what umbrella insurance actually is and how it could benefit them. At McCluskey Insurance Services LLC, serving the Cincinnati, OH community, we are an independent insurance agency, and we represent the finest carriers in the business.
Who Is Umbrella Insurance For?
One of the biggest misunderstandings about umbrella insurance is that it is only for the wealthy. While you can be pretty confident that the wealthy have umbrella insurance to protect their assets, it is not designed exclusively for them. It is designed to give an additional level of liability protection to protect your assets, no matter what those assets are.
Why umbrella insurance?
Umbrella insurance adds that additional layer of liability protection to any policy that you have with liability protection. That includes insurance for renters, condos, homes, autos, motorcycles, boats, RVs, and more. You don’t need to have a lot of assets, but your assets are what you own and have saved. You need to protect those assets from being lost to a judgment against you.
In addition to your assets, legal action can attach to your future earnings if you don’t have the means to pay the judgment. You could end up paying for years. Umbrella insurance protects your ability to earn as well as your assets.
How umbrella insurance works?
If you need to pay for personal injury or property damage, your primary insurance policy will pay up to the limit of the policy, and then the umbrella insurance will take effect and pay up to its limit. Most umbrella insurance begins at about a million dollars but can be higher if you need that.
Contact Us Today
Give the office of McCluskey Insurance Services LLC in Cincinnati, OH a call or stop by to get the umbrella insurance information you need.
