Insurance myths: Umbrella insurance is only for the rich

Of all the types of insurance, none is quite as misunderstood as umbrella insurance. The myth that it is only for the rich has been going around for quite some time. Once you understand what umbrella insurance is, you will understand why this is not true. At Quote Savant, we aim to educate our customers in the Frisco, TX metroplex so that they can make the necessary decisions when it comes to the insurance they need. 

Umbrella insurance is what is known as excess liability insurance

Many different types of insurance offer liability coverage. These include:

• Home
• Auto
• Condo
• Renters
• Boat
• Motorcycle
• RV

If you have one of these policies and the amount of liability insurance doesn’t seem adequate, the best way to get the additional coverage you need is to have an umbrella insurance policy. Umbrella insurance usually starts at about a million dollars in additional coverage. Given the size of judgments these days, it is not more than you probably could use if you are sued. 

Liability insurance offers protection to people of all means. Just because you are not rich doesn’t mean you don’t have assets that you would like to protect. If you don’t have the insurance to protect whatever assets you have, you could end up losing them and even more than that. Your future wages could be attached, so you would be ruining your present and your future. 

Umbrella insurance is the best option for protecting your finances and your assets. It is affordable and easy to acquire. Best of all, no matter how many policies you have with liability coverage, it will cover them all. 

Call Us Today

Contact Quote Savant in Frisco, TX when you are ready to discuss how umbrella insurance can help you protect your assets.