Umbrella Insurance in Ohio

Umbrella policies are essential types of policies, but they are also the least understood.

How Does Umbrella Insurance Work in Ohio?

Umbrella insurance is a type of liability insurance, and it’s designed to pick up where your homeowners or auto insurance liability coverage leaves off. For example, if you have $500,000 of liability coverage under your home policy, you may think you have enough coverage. However, if your dog bites a young child, and it requires extensive surgeries, then the legal and medical expenses can exceed $500,000. Without an umbrella policy, you would have to pay on your own for anything above the $500,000. This also works the same for a car accident that requires large medical bills and legal expenses. Umbrella insurance even protects claims that aren’t usually covered by underlying policies, such as libel, slander, invasion of privacy, and false arrest. Since umbrella insurance coverage is extra insurance, you do need to have current policies in place for your home and auto insurance in Green, OH.

Do You Need Umbrella Insurance in Ohio?

You may think you don’t have enough assets to protect to make umbrella insurance worth it. It’s important to note that lawsuits will happen. Lawsuits may not even be legitimate, but you still need the money to fight them. Lawsuits that are most often filed for damages or injuries are from home or auto accidents, children or pets, boating, and recreational vehicle accidents, rental houses or investment properties, and sports. Regardless of the allegations or type of suit, there can be massive legal fees. When a claim happens, and you don’t have enough coverage to pay the judgment, you could lose your home, retirement funds, investments, savings, and even your future wages. You don’t have to have $1 million to be sued for $1 million, so it’s vital to protect your current assets. An agent at Ken Boldt Insurance Agency II, Inc. in Green, OH can help you determine how much coverage protects your assets.

Contact Ken Boldt Insurance Agency II, Inc. to get a free quote on umbrella insurance.