Minimizing Your Financial Risk With A Personal Liability Insurance Umbrella

Nevada Insurance Enrollment Explains Avoiding Financial Loss with a Personal Liability Insurance Umbrella Policy
 
 
Minimizing Your Financial Risk With A Personal Liability Insurance Umbrella
Minimizing Your Financial Risk With A Personal Liability Insurance Umbrella
LAS VEGAS - Feb. 6, 2020 - PRLog -- Even though your homeowners/renters, boat and auto insurance policies include liability coverage, facing a lawsuit could lead to significant personal financial loss. Adding a personal liability umbrella policy may provide you with the extra insurance protection you need to protect your assets and financial future (future paychecks) if the unexpected happens.

How a Personal Liability Umbrella Insurance Policy Protects You
Your liability insurance coverage is there to cover damages if you inadvertently cause harm to another person or their property. For example, if you bump into someone in public, and somehow they get hurt, your homeowners/renters liability insurance coverage could pay out for damages incurred. But many of these policies are limited to $100,000 or $300,000 which may only be a fraction of what is needed in the event you are liable. Even if you are found to be 1% liable, you are still liable. Same situation with an auto collision. If you are found to be "at fault" and the injured party's medical bills are greater than your liability coverage, how are you going to pay for above and beyond your auto policy liability amounts? If you are found "at fault", you are responsible for all their pain, suffering, lost wages, damages, and medical bills. Your assets and future wages are/can be exposed in the event of a judgement.

Unfortunately, your existing liability coverage may not be enough, leaving you vulnerable to financial hardship if a settlement exceeds your liability limits. A personal liability insurance umbrella policy helps to bridge that gap by providing much needed extra coverage. This coverage is generally very affordable, and in some cases, it covers things not included in your other policies. Minimum coverage starts at $1 million, and that coverage can be increased by increments of $1 million.

Read the full article: https://www.nevadainsuranceenrollment.com/minimizing-financial-risk-with-personal-liability-insurance-umbrella/

Learn more: https://www.nevadainsuranceenrollment.com/auto-insurance-las-vegas-nevada/

Nevada Insurance Enrollment
4260 W. Craig Road suite #150-A
North Las Vegas, NV  89032
(702) 898-0554
Website: NevadaInsuranceEnrollment.com

Contact
Nevada Insurance Enrollment
Shelly Rogers
info@nevadainsuranceenrollment.com
702-898-0554
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Industry:Insurance
Location:Las Vegas - Nevada - United States
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