Umbrella Insurance in Washington
Umbrella policies are an easy and affordable way to purchase coverage to protect you from a large injury claim, or lawsuit.
Often for around $20 per month, this coverage picks up where your home or auto insurance coverages end. Umbrella insurance gives you broader and higher liability coverage limits, protecting your assets and future earnings.
For example, your involved in an accident that causes someone significant injury requiring extensive care, or there is a fatality... Your coverage on your car insurance is not going to be sufficient to pay for damages you may be ordered to pay.
What does umbrella insurance cover?
Hardly a day passes without someone being sued. Unfortunately, lawsuits can affect anyone, including the modest, super-rich, and anyone in between.
But how can you safeguard your hard-earned assets? The answer is umbrella insurance. This coverage protects you when accused by others of:
- Bodily injury
- Property damage
- Personal liabilities like libel, malicious prosecution, false arrest, and slander
Additionally, umbrella insurance covers your legal fees, including lawyer fees and settlement claims.
Who needs umbrella insurance?
Does everyone need umbrella insurance? Is umbrella insurance only for people with significant assets?
Frankly, those of us of modest means benefit the most from umbrella policies. Having all of your assets eaten up by a large liability lawsuit, or a sizable claim against you, can cause significant financial injury to the average person. You may not be able to financially recover.
In light of this, you need umbrella insurance ASAP if you:
- Own a higher risk pet that can cause harm
- Participate in high-risk hobbies like hunting that can hurt others
- Coach youth kids or youth sports
- You own a home, boat, or a vehicle
- Chair a charitable organization
- Own a business
- Have a heavy online presence
If you are a landlord, you should invest in umbrella insurance to protect you against liabilities due to the tenants' actions or injuries sustained by third parties while on your rental property.
Umbrella insurance in Washington
Would you like to protect your assets and future earnings? Please consider investing in umbrella insurance from Lilac Insurance Group LLC, serving Spokane, WA, and its surrounding area. Contact us today for a quote.