No one expects to get dragged into a lawsuit, but accidents happen. Umbrella insurance can protect you from the financial devastation a legal claim can cause. Alabama residents can get quotes on umbrella insurance policies for just about any budget. This can become a great source of comfort, especially if you have 4-wheelers, a boat, pool, vehicles, dogs, or other items that carry a risk of injury or property damage to others. Umbrella insurance raises your liability limits with extra insurance to help protect your home, savings, and future earnings from an unexpected lawsuit.
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Incidents That Lead to Legal Claims in AL
- A guest or delivery person slips and falls on your front steps.
- You accidentally cause a car accident.
- Your dog bites someone.
- You are accused of libel or slander.
- You are involved in a boating accident.
- A neighbor child suffers an injury in your yard or pool.
- Your tree falls on the neighbor's car or house.
- Your employee faces a work-related injury.
- A tenant falls because of a broken stair rail.
Even if you are a very cautious person, accidents can happen at any time, and if you are found responsible you could face hundreds of thousands, or even millions, in settlement costs. Your homeowners insurance, car insurance, and business insurance policies most likely contain some amount of liability coverage for certain incidents. An umbrella policy works as extra liability insurance, to raise the coverage limits and expand the scope of covered events, over and above your current policies. This can protect your savings, assets, and future earnings from the devastation of a serious legal claim against you.
Who Needs Umbrella Insurance?
Many Alabama residents own businesses, land, and homes that have been in the family for generations. Others spend decades building the house and lifestyle they want to pursue. In either case, all it takes is one major settlement to lose the things that matter most to your family. In fact, statistics show that the more you own, the more likely you are to face litigation at some point in your life.
The insurance you currently keep for your property and business can cover a portion of your risk, typically up to a few hundred thousand dollars. However, if you get hit with a court settlement for a million dollars or more, the difference between your coverage limits and the settlement amount must come from your pocket, your assets, or your future earnings. Umbrella insurance helps to bridge that gap so that you can feel confident that a lawsuit won't endanger the lifestyle you've created for yourself and your loved ones.
Even if you are young and do not own much in the way of real estate or savings, if you are on a successful career path, or in training to become a doctor, lawyer, or other professional perceived to be well-paid, you could face a lawsuit that threatens your future earnings and makes it impossible to purchase the home and other items you hope to earn someday. Purchasing the right car insurance and professional liability coverage, in tandem with an umbrella policy, can keep your future covered.
What Does Umbrella Insurance Cover in AL?
Umbrella insurance can cover many of the same liability risks that your other insurance policies cover, plus a few more that other policies won't touch. These incidents can include:
- Bodily injury claims
- Property damage claims
- Legal fees
- False arrest
You can get quotes on very affordable umbrella policies from a local agent, and ask about the risks you are most likely to face in your line of work and on your property. Coverage limits on umbrella policies typically start around the $1 million mark, but coverage grows in value if you purchase a policy with a higher limit. Often, you can raise your coverage to $2 million or more for just a small increase in premium.
How Do You Find the Best Deal on Umbrella Insurance?
An independent insurance agent is usually your best bet for finding the most affordable quotes on umbrella insurance and other policies. Independent agents work with many different insurance carriers, so they are able to shop around and find the right coverage at the perfect price for your budget. Our agents are independent, local agents who live right here in Alabama. You can find one in your zip code and ask questions, get quotes, and find exactly the amount and type of coverage you need. A local agent can also advocate for you if you ever need to file a claim with your insurance company.
Contact an agent near you today to get the best quotes on umbrella insurance around.