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Umbrella Insurance

Umbrella Insurance Policies

Chicago Insurance Advisors

An umbrella policy works by serving as addition to the insurance coverage you already have, such as homeowner’s insurance, auto insurance and so forth. Its benefits kick in when you have already relied on the liability your other insurance policies cover. It also protects you for claims that might be fraudulent, such as slander, libel, false arrest and liability on any rental units you might own.

Generally speaking, this type of insurance is helpful for anyone who has more of a chance of risk occurring on their property or because of the property they own. For instance, if you own a potentially dangerous vehicle such as a motorcycle or ATV or if you own your own business, you should certainly invest in such an insurance policy. There is a much greater likelihood of something going wrong and another person suffering an injury when they are visiting your property or are around your vehicle, especially if an inexperienced driver is operating it. Slips and falls are common at places of business or even outside of homes. This liability insurance can be used to protect you in the event that someone has a disaster.

In general, this type of policy provides coverage for bodily injury to other individuals who may get hurt due to a car accident that is your fault, injuries caused by your pet or injuries visitors sustain while visiting your home whether inside or outside. It provides property damage liability and involves protecting you in the event that other people’s vehicles or property suffer damage as a result of your actions, damage that occurs because of your pet and damage to property caused by your child. It protects owners of rental units when someone has a slip and fall incident on the premises or outside on the property or when a pet at the premises bites someone.

Umbrella insurance offers major benefits in addition to protecting your assets. They tend to be low in cost and offer you peace of mind so that you are always protected in the event that some disaster occurs without warning. It enables you to be better prepared for an accident that is beyond your control.


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