We see it every day—huge jury awards that result in personal or business financial ruin. Most of us don’t expect a loss that exceeds the limits of our liability insurance which covers injuries, accidents, property damage and other mistakes. But, in today’s world, these things happen. Umbrella insurance provides that extra insurance needed to protect you, your family, your assets and your business.
Supposing someone trips and falls on your property or in your business facility, resulting in a major injury like a brain concussion. It could also lead to huge hospital bills and a devastating lawsuit, one that could have the potential of destroying the future for you, your family and your business. You might even be liable for millions. And unfortunately, even if you don’t have the insurance or assets to cover the payout required by the court, the court could allocate your future earnings to satisfy the judgment.
Interestingly, umbrella insurance remains amazingly affordable in spite of what’s going on in the world around us. The broad coverage of a single umbrella insurance policy can supplement several of your already existing policies and provide great cost savings when considering what it would cost to increase the limits of coverage for each individual policy.
Consider what the outcome might be if you were to be caught in a situation like the one described above. Would such a loss be covered by your existing liability insurance? If not, Koch Insurance Group can help you protect your assets with the coverage you need. We will be glad to meet with you and answer all your questions relating to your needs and then tailor your umbrella insurance for your specific situation.