While many believe umbrella coverage is only for the well-off, this couldn’t be further from the truth. In fact, many experts suggest that every adult who is earning a living in either the public or private sectors to acquire umbrella coverage. Are you considering purchasing an umbrella package but need a bit more information before you’re ready to commit? The following is an overview of three reasons to purchase umbrella coverage today.
Injuries on Property
In the case in which someone is injured on your premises, umbrella coverage is a godsend. This is due to the fact that people are likely to sue your estate when they are seriously injured on your property and your present coverage may not be enough to cover your expenses. Therefore, by purchasing umbrella coverage you will protect yourself against costly lawsuits.
Protection Against Slander and other Libel Suits
With the rise of social media, there is also a rise in the amount and reasoning behind an array of lawsuits. Given the possibility of a multi-million dollar lawsuit to be filed at any given moment, purchasing an umbrella policy will help protect you in the unfortunate event that you are hit with such a lawsuit.
Lastly, although many believe they have enough coverage to resolve accidents on the road, this is not always the case. If you are involved in a serious accident in which properties or other pricey structures are also damaged, you could be on the hook for multi-millions.
Overall, for those who need umbrella coverage in Illinois, Bob Korvas Agency Inc. is proud to assist you. Proudly offering an array of customizable umbrella packages, call, stop in, or email us today and find out ways you can gain coverage and save!