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Umbrella Insurance in Texas
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Nobody is perfect in this world, and neither is your standard liability coverage. There is no way you'll avoid a financial loss if you cause bodily injury to other people or significant property damage to someone else's property in Texas. Although, you may not need to worry if you have standard liability coverage that will cater for the loss.
However, policy limits may be reached, and you may find yourself in a difficult situation. For instance, what happens if the court awards the affected party a compensation that is above the maximum limit of your standard liability policy? You will be forced to look for alternative ways of raising the extra amount of money to settle the case. However, you can avoid such a scenario by purchasing an umbrella insurance policy from TAB Insurance Agency, LLC in Frisco, TX.
How Does Our Umbrella Policy Work?
Let's assume that you were involved in a car accident where you were at fault, and you cause severe injuries to the other driver. You own a regular auto insurance policy that can cover the injured driver up to a limit of $200,000. What happens if your case ends up in court and the judge awards the other driver a compensation amount of $400,000 covering the lost income during the number of days that he was unable to work? In this case, your standard policy can only cover up to $200,000. So, where do you get the extra $200,000? That is where our umbrella policy can help you since the coverage will pay the additional costs.
What Does Our Umbrella Policy Cover?
Being an extra liability policy, our umbrella insurance is meant to protect you from large and potentially devastating court judgments or claims. An umbrella policy can cover the following:
- Bodily injuries
- Property damage
- Personal injury
- Landlord liability
Contact TAB Insurance Agency, LLC in Frisco, TX today for your umbrella policy. We can work with you to get started on a policy and walk you through the process. Reach out to our Texas offices to get a quote and learn more.