Your Umbrella Insurance: Ways It Protects You

Umbrella insurance is a unique policy option that may help many people and businesses. But is it the best option for your needs? If you’re uncertain whether you need this policy, we at Western Trail Insurance can help Oshkosh, NE residents like you better understand what this policy will do for your needs.

What is Umbrella Insurance?

Umbrella insurance is a type of liability coverage that goes into effect after your primary liability pays out fully. It helps to protect policyholders when they experience a major financial lawsuit. For example, if you get sued for $30,000 and your liability caps out at $20,000, an umbrella policy would pay the difference. But is this type of coverage necessary for you or can you do without it?

Times When It May Help You

There are many situations in which umbrella policies may protect you. These situations may not occur to everybody but are common for many businesses. They can be particularly devastating for smaller companies that simply can’t afford major lawsuits. Times when umbrella policies help include when:

  • After a serious accident in your business
  • Covering multiple simultaneous lawsuits
  • Experiencing class-action suits from many parties

As you can see, these different scenarios are things that can happen to many people and organizations. Are you afraid of them occurring in your field? If so, it is a superb choice to find an umbrella insurance policy that makes the most sense for your needs.

Finding a Strong Option

Do you think that an umbrella insurance policy is a strong option for your needs? Our team at Western Trail Insurance can help you. Our Oshkosh, NE representatives fully understand the unique coverage protection inherent with these policies and will do what they can to help you get the best results possible.