Everyone needs insurance. It is designed to protect the purchaser from liability, whether they are the cause of or the victim of an accident. It protects our most important investments like our homes, cars, and provides for our loved ones should something truly tragic happen.
Most insurance policies in Arkansas, including those from Jay Freeman Insurance Agency Inc., have limits regarding the amount of liability they cover. The level of protection provided by a policy is decided by the purchaser when selecting coverage. If an incident occurs that requires a higher payout than the selected liability limit, the purchaser is on the hook for the difference. This is where an Umbrella insurance policy comes in.
The main function of umbrella insurance is to provide extra security when liability limits on other policies are reached or surpassed. But it does so much more than that. The policyholder is not the only person covered by umbrella insurance. In most cases, it safeguards other family members whether they are in the home of the policyholder or somewhere else around the globe.
Umbrella insurance in Arkansas is the best way to protect one’s assets if liability is found in cases involving personal injury or damage to property. It also covers costs, such as libel, slander, and legal fees that are not a part of one’s regular suite of policy coverage. If you are not covered, all of your assets, home, car, investments, retirement funds, and income could be taken to cover your liability. Your future income could even be threatened through wage garnishment.
Don’t let a tragedy destroy everything for which you’ve worked. Purchasing an umbrella insurance policy is an easy way to protect your assets and provide peace of mind to your family. Call Jay Freeman Insurance Agency Inc. to discuss how umbrella policies can protect you, or to talk about any of your insurance needs.