Umbrella insurance from Peninsula Underwriters Insurance Agency provides an extra layer of financial protection in case you are held liable for an accident or incident. But does it replace all your other insurance policies here in the Gainesville, FL area?
The answer is no.
Umbrella insurance is supplemental coverage, meaning it kicks in after any other applicable policies you have used up. It doesn’t replace your homeowners, car, or other liability insurance – these policies provide the primary coverage for any claims against you.
You can think of umbrella insurance as a safeguard that provides additional coverage beyond your existing policies and helps to protect your assets if you’re held liable for a large claim, such as a lawsuit. Umbrella insurance is important to have if you own property, assets, or investments or have significant income and savings; however, it should not be used as a substitute for the primary coverages provided by your other policies.
Umbrella insurance is relatively affordable and can give you peace of mind knowing that you’re covered in the event of a large claim. There are multiple factors that go into determining how much your policy will cost, including the size of your coverage limit and any additional riders or policy provisions. In addition, some companies offer discounts if you bundle your umbrella insurance with other policies.
Give Us A Call
It’s important to talk to an independent insurance agent from Peninsula Underwriters Insurance Agency who can help you evaluate your risk and determine the type and size of policy that best fits your needs. We can also provide advice on how to protect yourself further. So give us a call today. We are proud to serve the Gainesville, FL area and will be happy to help you.
