To best understand umbrella insurance coverage, it helps to know what types of situations you need umbrella coverage in. There are numerous situations you could face in Mechanicsburg, PA where having umbrella insurance coverage could be a lifesaver. At Grove Financial & Associates, Inc, we offer umbrella insurance policies.
The following are three situations that put you in need of umbrella insurance coverage.
An accident leading to a lawsuit against you occurs on your property.
As a property owner, you could be sued if an accident occurs on your property. Your home or property insurance policy will cover resulting damages up to a certain amount.
However, lawsuit damages for a property owner could exceed the policy maximum of their home or property insurance policy. This is when umbrella coverage comes into play. Umbrella insurance will cover damages over the maximum coverage amounts of your home or property insurance policy.
You are being sued for libel or slander.
Being sued for libel or slander is always expensive. Even if a slander or libel lawsuit against you is dropped, you will still have to pay for legal costs to defend yourself.
Umbrella insurance policies cover the costs of lawsuit damages resulting from libel or slander accusations against the policyholder.
You are involved in an auto accident resulting in significant property damage and medical costs.
Umbrella insurance enhances your auto insurance policy just as it does your home insurance policy. Umbrella insurance covers damages above your auto insurance policy maximums.
Find the right umbrella insurance policy in Mechanicsburg, PA with our help at Grove Financial & Associates, Inc. Contact us with your questions and inquiries regarding umbrella insurance policies.