The most well-known benefit of umbrella insurance is that it increases the liability coverage provided by home, renters, and auto policies. However, it also insures against additional types of legal claims that your original policy might not cover. These often include issues like privacy invasion, false arrest, and defamation.
Slander vs. Libel
While slander refers to spoken statements, libel involves written or published harmful information. Libelous material can appear on the internet, in signs, in newspapers, or other printed publications. Both slander and libel are forms of defamation, and umbrella insurance typically covers them, with certain exceptions. Even when a negative statement is true, proving it can be difficult.
Could It Happen to You?
Unfortunately, it’s easier than ever to make defamatory statements that could result in a lawsuit. Social media networks, online forums, and business review websites allow users to post negative comments instantly. Even if you don’t use these platforms, you could unknowingly repeat false information or exaggerate someone’s faults in a moment of anger.
Types of Insurance
Regular home or renters insurance may or may not cover defamation in Crystal Lake, IL. Some insurers offer this coverage as an optional rider. Even if your existing policy includes protection against slander and libel lawsuits, you could still benefit from umbrella insurance. It increases the coverage limit for defamation claims and can help cover legal defense costs, regardless of the verdict.
If you’d like to benefit from the protection offered by an umbrella policy, talk to the experts at August Vincent Insurance Agency. Our independent agents will help you compare coverage options and find the right policy for your needs. To get started, please call 847-217-2184 to reach the August Vincent Insurance Agency office in Crystal Lake, IL.
