In a previous post, we discussed in depth the uninsured / underinsured portion of your auto insurance policy. That specific coverage on your auto policy protects you when someone causes you a loss and they don’t carry insurance or enough insurance.
THE AUTO LIMITS CAN BE MAXED OUT
Today we’re going to go one step further. While it’s hard to talk about, sometimes accidents cause excessive loss. Injuries that require several surgeries, extended hospital stays, loss wages, and even the inability to work in the future. It is unlikely that a standard auto insurance policy will cover those expenses. Even with good limits of protection.
HOW DOES AN UMBRELLA HELP ME?
Having an umbrella policy in place is first and foremost an important way to protect yourself when you are liable for injury or damage to others. It prevents financial ruin should an unfortunate situation arise.
However, your umbrella policy is also very important for protecting yourself when you are not liable as well. The policy includes it’s own uninsured / underinsured portion. Should your loss be excessive and your own auto uninsured portion is maxed out, your umbrella uninsured portion picks up where it leaves off. The needed funds to cover medical, physical, emotional, and employment financial strain are available when you need them.
CAN I GET THE MONEY ANY OTHER WAY?
If someone is not carrying auto insurance, it’s unlikely even through a lawsuit, that you’ll be able to collect what you really need to be awarded. And, lawsuits of this magnitude are never handled quickly. The umbrella uninsured portion is the safety net needed to protect yourself the best way possible. Thankfully, it’s very easy to get a quote. Give us a call today so we can answer all your questions.
