Residents in the state of Indiana have varying insurance coverage needs, but regardless of whether you live in a rural area like Benton County or a large city like Indianapolis, you could face excessive liability charges. In most cases, a regular insurance policy will adequately cover your risks, but when an accident results in severe injuries or death, the liability costs will often exceed your policy’s coverage limits. At times like these, an Indiana umbrella insurance policy can protect you from financial hardship.
You can count on an independent agent in the Trusted Choice® network for assistance determining your unique liability risks and coverage needs. Because they have relationships with several different insurance companies, member agents can easily provide you with a variety of competitively priced policies that meet those needs. Contact a Trusted Choice network agent today to obtain a variety of Indiana umbrella insurance quotes.
The purpose of an Indiana umbrella insurance policy is to provide extra liability insurance for all of your policies that include liability coverage like home, auto, or boat, for example. If you are liable for an accident, your primary insurance will cover the expenses up to your coverage limit. If the costs exceed this limit, your umbrella insurance policy will kick in to pick up the costs so that you are not left with extreme out-of-pocket liability expenses.
In today’s litigious society, it is a good idea to have as much liability insurance as you can afford. Juries tend to grant major judgments when liability cases are taken to court. An Indiana umbrella insurance policy can be a wise investment; it can protect you from financial hardship or the need to file for bankruptcy.
Most Indiana residents carry liability coverage in the form of auto, and homeowners or renters insurance. You may have other insurance plans that offer liability coverage, whether through a business insurance policy or through motorcycle, boat, RV or ATV insurance. You can raise the liability limits on all your policies by purchasing an Indiana umbrella insurance policy.
As a general rule, the more assets you have, the more you stand you lose if your actions or negligence result in injuries or damage. Extra insurance coverage through an Indiana umbrella policy can protect your assets and your financial well-being.
Car insurance at Indiana’s state minimum provides liability coverage of $25,000 per injured person, up to a total of $50,000, and $10,000 in property damage coverage. While these minimum coverage limits may seem high, they are often not sufficient to fully cover the costs of accidents that involve several individuals or that result in serious injuries or death. Here are some statistics to consider:
Fortunately, most collisions result in property damage only or in minor injuries. However, enough accidents occur to warrant liability coverage beyond the state minimum requirements. An Indiana umbrella insurance policy will allow you to acquire additional liability coverage while saving money by buying your car insurance at state minimum coverage amounts.
A homeowners insurance policy will provide liability coverage in the event that you are held liable for an injury to a guest in your home. This can occur if someone slips on a wet floor or falls down stairs you didn’t repair. You could also be held liable if someone in injured on your property while swimming, using a trampoline, or if your dog bites a visitor.
On a separate note, accidental fires have the potential to lead to extremely high liability costs for those who live in condos, townhouses or other close living situations where a fire in their home can damage neighboring property. This is another situation having an umbrella policy in place will ensure that you have enough coverage for your liability costs.
If you are interested in purchasing an umbrella insurance policy, or if you have questions about how it works or how much it will cost, you can turn to a Trusted Choice member agent. Umbrella policies may not be ideal for all people, but for most, they can be a cost-effective way to achieve extra coverage and acquire peace-of-mind. A Trusted Choice member agent can help you determine if an umbrella policy is right for you.
Every network agent has taken a pledge to provide exceptional customer service and ethical advice. Your local member agent may even be able to find ways to help you save money on your other insurance policies. Find a Trusted Choice member agent by entering ZIP code and start comparing Indiana umbrella insurance quotes today.