Category: Umbella Insurance

If you have a home insurance policy and an auto policy, you may feel well protected against many of the risks you face. However, you might not have the coverage you need if there were to be a severe accident. These can cost an enormous amount, and your home and auto policy may not have enough liability coverage to pay for the damages. That’s why so many people choose to get an umbrella policy to add to their coverage. If you need an umbrella policy to make sure you’re better covered, call us at Melvin Gessner Insurance Agency in Willis, TX.

More Liability Coverage

The liability coverage that you get with your home and auto policies is often too low to pay for an expensive accident. When you get umbrella insurance, it puts more liability coverage on both of these policies. Umbrella policies come with an enormous amount of coverage, and this makes up for the low coverage in the other two policies. This means that when a serious accident happens, and the bills are sky-high, they can still get paid by insurance instead of being paid from their own pockets.

Overages

The main risk of not having umbrella insurance is that after a serious accident, your home or auto policy won’t be able to pay for the resulting bills. When this happens because you have only a small amount of liability coverage, it creates an overage after the home or auto policy has been paid and maxed out. This overage is what an umbrella policy would pay for you. This ensures that you won’t be left with a huge bill after your insurance maxes out.

Get Protected With Umbrella Insurance

When you need an umbrella policy, we’re here to help. Call us at Melvin Gessner Insurance Agency in Willis, TX.

As a resident of the Wilis, TX area, you may be considering getting umbrella insurance to ensure sufficient protection for your assets and to safeguard yourself against lawsuits. However, before you take the plunge, there are a few things you should know.

What Is and Is Not Covered by an Umbrella Policy

For starters, an umbrella policy from Melvin Gessner Insurance Agency is an extra layer of protection that you can add to your existing insurance coverage, such as auto, home, boat, or renters insurance. Its primary function is to provide additional coverage beyond the limits of your other policies, which can come in handy if you’re sued for damages that exceed your primary insurance limits.

However, it’s important to note that umbrella policies don’t cover every possible scenario. For example, they typically don’t cover intentional damage or criminal activity, nor do they cover damages caused by business activities or professional services. Additionally, umbrella policies don’t provide coverage for liabilities that have already been covered by your other policies or for losses that are already covered by your standard deductible.

The Claims Process for Umbrella Insurance

When it comes to filing a claim with your umbrella insurance provider, the process is quite straightforward. You’ll need to report any incidents that may result in a claim as soon as possible and provide all the necessary documentation to support your claim. Your insurer will then evaluate your claim and determine whether it’s covered under your policy. If so, they’ll pay out the claim up to the policy’s limits.

Do You Qualify for Umbrella Insurance?

Finally, you may be wondering whether you qualify for umbrella insurance. While requirements vary by insurer, here are a few factors that can affect your eligibility:

• You typically need to have a minimum amount of primary insurance coverage for liability coverage on your home and auto policies.
• You may need to have a certain level of net worth or income, to demonstrate that you have assets to protect.
• You’ll need to pass a background check, as insurers are looking for a history of responsible behavior and no major claims against you.

We Are Here To Help!

Umbrella insurance can be a valuable tool for protecting your assets and giving you peace of mind. By understanding what is and isn’t covered, how the claims process works, and whether you’re eligible for coverage, you can make an informed decision about whether to invest in umbrella insurance for your personal situation. As always, be sure to work with a trusted insurance provider like Melvin Gessner Insurance Agency in the Wilis, TX area to help you make a conscious choice. 

When looking for insurance, it’s important to ensure that you’re getting the best coverage possible. One type of policy you may want to consider is umbrella insurance. This type of policy can provide extra protection for you in the event that something happens. However, it’s important to make sure that your policy is effective.

Here is how you can ensure that your umbrella insurance policy provides the protection you need:

1. Make Sure You Have the Right Amount of Coverage

The first step to ensuring your umbrella policy is effective is ensuring you have the right amount of coverage. You’ll want to consider the value of your assets and how much coverage you need. If you don’t have enough coverage, you may find yourself in a situation where you’re unable to pay for damages. On the other hand, if you have too much coverage, you could be paying for protection that you don’t need. Work with our insurance agent at Melvin Gessner Insurance Agency in Willis, TX to determine the right amount of coverage for your needs.

2. Review Your Policy Regularly

Your needs can change over time, so it’s important to review your umbrella policy regularly. Make sure that you still have the right amount of coverage and that your policy covers the types of risks that you’re now facing. For example, if you’ve recently acquired a new asset, you’ll want to make sure that it’s properly covered. Reviewing your policy regularly will help you make sure that you’re always getting the protection you need.

3. Know What’s Covered

It’s also important to ensure you understand what’s covered by your umbrella policy. Many people are surprised to find out that their policy doesn’t cover certain types of risks. Make sure you’re aware of the limitations of your coverage so that you can be prepared in the event that something happens.

Contact Us Today

An umbrella insurance policy can provide important protection for you and your family. However, it’s important to make sure that your policy is effective. By following the tips above, you can help ensure that your policy provides the coverage you need. Willis, TX residents can contact Melvin Gessner Insurance Agency for more information about umbrella insurance. Our team is here to help you find the right policy for your needs.