Many people understand the basic types of insurance available, auto, home, life, and health. What many people do not realize, though, is that sometimes these insurance products may not be enough to fully protect you. At Com-Co Insurance Agency Inc, serving Mount Prospect, IL, we take your insurance education very seriously. Keep reading to find out what you need to know about umbrella insurance and how it can better protect you and your family.
What Is Umbrella Insurance?
Umbrella insurance is an insurance product that you can purchase to supplement your existing policies. Insurance policies, although a smart way to protect your family and finances, are limited in how much they will pay out should you need to file a claim. If you or your family experiences an event that exhausts the insurance policy and does not fully cover the expenses incurred by the event, you could be left financially vulnerable. Umbrella insurance is a supplement that can kick in if this happens to offer further protection.
What Does Umbrella Insurance Cover?
Umbrella insurance can be customized to suit your particular needs. Depending on where your greatest risk factors lie, your umbrella policy can be specialized to kick in if your regular insurance is insufficient to cover the expenses incurred by an event. This can apply to auto, home, life, or health insurance. This can also apply to commercial insurance policies if you operate a business.
Each person and family will have their own unique risk factors. In order to determine how umbrella insurance can best serve you and your family, you should sit down with an insurance representative to assess your risk factors and find out how umbrella insurance can help.
If you would like to learn more about umbrella insurance, please contact our staff today at Com-Co Insurance Agency Inc, serving Mount Prospect, IL.