When you live in a rainy area having an umbrella can help to protect you from getting wet. The concept of an umbrella insurance policy is similar. It offers additional liability protection from legal actions that may be taken against you. If you have assets, this insurance is an important addition to any long-term financial planning. At Bolivar Broussard and Company Insurance we want all our customers to feel safe and protected and we take the time to get to know and understand your particular situation.
Umbrella insurance is excess liability coverage. It is in addition to your home or auto insurance. When you have reached the liability limit on your auto or home, the umbrella policy kicks in. When you have assets, you are vulnerable to legal action being taken against you. In today's world, judgments can run very high, much higher in many cases than the limits on your home or auto policy. Umbrella insurance coverage on average is between one and five million in additional protection.
Umbrella insurance covers all the members of your family, even your furry friends. If someone is injured on your property or even away from your property or in a vehicle accident legal action may be taken against you. Legal fees can run very high and if you don't have umbrella insurance you could be dipping into your saving in order to dispute any suit against you. If a judgment is made against you, you are responsible to pay it. If you have insurance coverage, it will pay up to the limit and then the umbrella will pay the additional amount. Without this additional coverage, you would have to pay the amount yourself which could mean depleting all your savings and even your assets.
At Bolivar Broussard and Company Insurance we understand our customer's needs and we will work with you to provide the protection that you need at a price that makes sense. Stop by our office or give us a call, we are waiting to hear from you.