There are many types of insurance, and you may wonder if you have all the coverage you need. Our team at the August Vincent Insurance Agency will take the time to review your personal situation and evaluate the policies you currently own. Clients in the Crystal Lake, IL area can find the right insurance options for their insurance needs.  We’ve been helping clients like you since 2016.

Before You Buy Umbrella Insurance

Umbrella insurance is a policy that you buy in addition to your homeowners or auto insurance, and it is intended to pay for a claim if the maximum payouts of your policy are not enough to pay your claim. If you are considering UBS umbrella insurance, there are some facts you need to know. For example, according to CIG, umbrella insurance can pay for excess repair costs, and it can also provide additional funds if a liability claim is made against you.

An umbrella insurance policy is never effective as a stand-alone policy. According to CIG, you must already have an auto or home insurance policy before applying for an umbrella policy. Many states require you to increase your coverage limits beyond the state limits before allowing you to apply for umbrella insurance. If you have any questions about umbrella insurance, talk to one of our experienced agents. 

Call Us Today for Your Appointment 

Many people today have financial challenges, so they may hesitate to purchase additional insurance coverage, such as umbrella insurance. Our team at August Vincent Insurance Agency will help you fully explore the potential benefits of umbrella insurance for you.  Clients in the Crystal Lake, IL area have discovered that we provide excellent customer service. Contact us today and schedule your appointment to discover whether umbrella insurance is right for you.
 

If you have homeowners’ insurance, you may already know that liability coverage is included in your policy. Umbrella insurance also provides liability protection, which often leads homeowners to wonder why they might need both. This is a common and important question. The professionals at August Vincent Insurance Agency, servicing Crystal Lake, IL, can explain how umbrella insurance works and help you determine whether it is a good fit for your needs.

What Is Umbrella Insurance?

Umbrella insurance provides extended liability coverage beyond the limits of your primary insurance policies, such as homeowners or auto insurance. When the liability limits of those policies are exhausted, an umbrella policy can step in to provide additional protection. This extra layer of coverage is designed to help protect your assets and financial future.

How Umbrella Insurance Differs From Home Insurance

Umbrella insurance only applies after the liability limits of your homeowners or auto insurance policies have been fully used. While homeowners’ insurance covers your home and personal belongings and includes a set amount of liability protection, umbrella insurance focuses solely on liability coverage.

It is important to note that umbrella insurance does not increase coverage for your home’s structure or your personal property. Instead, it extends liability protection for claims involving bodily injury, property damage, and certain lawsuits.

Do You Need Umbrella Insurance Along With Home Insurance?

Umbrella insurance is not required for everyone, but it can be a smart choice for homeowners with significant assets to protect. If your savings, investments, or future earnings exceed the liability limits of your homeowners insurance, an umbrella policy may provide valuable additional protection.

Homeowners who have higher liability exposure, such as those with swimming pools, trampolines, or frequent visitors, may also benefit from umbrella insurance. An insurance agent can help evaluate your risks and determine whether added liability coverage makes sense.

Contact August Vincent Insurance Agency

Deciding whether umbrella insurance is right for you can feel overwhelming. The team at August Vincent Insurance Agency, servicing Crystal Lake, IL, is available to review your coverage, explain your options, and answer your questions. Contact us today to discuss whether umbrella insurance can help protect your financial well-being.

When we think about risks, we often consider the extreme stuff and may overlook the ordinary, everyday risks that we don’t pay any attention to. At August Vincent Insurance Agency in Crystal Lake, IL, we work with our clients to advise them on insurance for managing extreme risks, as well as everyday needs.

Some examples are having pets (especially dogs), owning a pool or a trampoline, renting out part of your home, or sharing your property with guests. These can trigger liability events that may exceed the standard coverage for homeowners or renters, and that’s where umbrella insurance helps.

What Is Umbrella Insurance?

Umbrella insurance is a special kind of coverage that has very high policy limits ($1 milion to $5 million is not uncommon). There are two facets to umbrella insurance, which are:

1. It provides additional coverage after a covered claim exceeds the policy limits of your other insurance policies, including your home and auto.
2. It often provides specialized coverage for risks that are not offered under other policies you may have.

Depending on your needs, umbrella insurance may help manage risks associated with defamation lawsuits for social media use and other liability-related risks. However, specialized coverage related to cyberattacks typically requires a separate policy, such as cyber liability insurance.

Crazy things can happen. Your big dog jumps on the trampoline, throwing a drunk guest into your pool. It’s your dog, trampoline, and pool, and if you served alcohol at the party, you may have a significant liability if someone is seriously hurt. We are not saying your umbrella insurance will cover such a thing, but it is just an exaggerated example of the types of circumstances you will want to discuss with your agent.

August Vincent Insurance Agency, serving Crystal Lake, IL, can help you find an umbrella policy to extend your liability coverage across your home and auto policies. Contact us to review your existing insurance and get recommendations for umbrella insurance.