When shopping for an insurance plan, it’s always a good idea to explore the various options that are available. At Maschoff Insurance, we are providing umbrella insurance to the people of Ankeny, IA. But how do you determine if you need umbrella insurance rather than other insurance plans?
What is Umbrella Insurance?
Umbrella insurance is a type of liability insurance that extends beyond your current policy’s coverage. In liability insurance, the insured is covered for situations involving lawsuits and legal fees. If a client is being sued for personal injury or property damage, they can rely on liability coverage for financial protection. However, some situations surpass the limit of liability coverage. Most insurance policies will only pay up to a specific limit. Umbrella insurance is a plan that provides additional liability payments, offering the customer peace of mind, knowing they won’t have to worry about expensive legal issues.
Is Umbrella Insurance Preferable to Other Insurance?
The answer to this question depends on your needs. An umbrella insurance policy could be extremely beneficial if you find yourself in a situation where a lawsuit could turn outrageously expensive. Umbrella insurance is ideal for people with significant wealth or those who offer hazardous products or services. Typically, umbrella insurance is as versatile as other types of insurance coverage.
Getting Umbrella Insurance in Ankeny, IA
If you’re interested in learning more about our umbrella insurance plan, please get in touch with Maschoff Insurance at 515-964-3195. Our agency’s team is highly experienced in designing customized plans for our clients.
