The idea of a lawsuit scares many people. Getting sued, either because someone is injured on your property or because of accidental property damage, is a nightmare-scenario for many people. Having the right insurance to back you up makes all the difference. Many people rely on their home insurance for this kind of protection, but for some, this insurance isn’t enough. The professionals at Com-Co Insurance Agency Inc servicing Mount Prospect, IL can help. We help our clients find home insurance and umbrella insurance to meet their needs. This is what you need to know. 

What a Lawsuit Can Do To Your Savings

If you’re sued for a substantial amount, you may be liable to pay a lot of money in damages. Yes, your savings could be at risk if you’re sued. You could be required to pay the full amount from your savings and other assets. Even if the claim is unsuccessful, legal fees come with their own cost. 

Doesn’t Home Insurance Provide Liability Coverage?

If you have home insurance, the liability coverage in your policy will help. If the amount you’re sued for exceeds the coverage in your home insurance policy, your savings and other assets could still be at risk. 

How Umbrella Insurance Can Help 

Umbrella insurance provides additional liability insurance coverage. If your home insurance liability is exhausted in a lawsuit, your umbrella insurance may activate to provide additional coverage. This can be essential during a lawsuit, and can help you preserve your savings and other assets.

Many people could benefit from umbrella insurance. The professionals at Com-Co Insurance Agency Inc servicing Mount Prospect, IL can help. As an independent insurance agency, we can work with our insurance carrier partners to help you get the insurance coverage that you need to protect your assets. Call today to speak with one of our professionals.