If you’re in Glen Allen, VA, and considering umbrella insurance, it’s essential to understand what is covered and what is not. That’s where we come in. At Everett Insurance, we want to ensure you fully understand the type of policy you’re considering, how it can benefit you, and what won’t be covered in the event of a claim. Here’s what to consider before choosing umbrella coverage.

Umbrella Policies: Liability Protection for Claims Against You

In simple terms, an umbrella policy protects you in the event of a claim made against you by someone else. It does not cover damage to your car, home, or personal possessions. Instead, it is designed to cover the cost of property damage or injury to another person. For example, if someone is harmed in an accident and their claim exceeds the limits of your primary insurance policy, an umbrella policy can help cover the additional costs.

Business Losses and Contracts Are Not Covered

Losses sustained by your business or issues arising from a bad contract are typically not covered by an umbrella policy. However, that doesn’t mean your business shouldn’t have one. The primary goal of umbrella insurance is to reduce liability and protect you from claims made by others, allowing you to continue operating and keep your company afloat. Whether you’re looking to protect personal assets or business interests, umbrella insurance may be a valuable option.

Work With an Agent to Make the Best Choice

Contact us today at Everett Insurance if you’re in Glen Allen, VA, and interested in umbrella insurance. Our agents will help you understand the details of the policy, including what is covered and what is not. With this information, you can decide if the benefits are valuable to you and select the type and level of policy that provides the additional protection you need.