Myths about Umbrella Insurance

An umbrella policy in Aliso Viejo, CA can provide an extra layer of insurance protection, but there are a lot of misconceptions about this type of policy.

Premiums for umbrella policies are too high.

You may be surprised to find out how affordable umbrella insurance can be. For just a small amount, you can add $1 million or more of liability coverage. There could be a number of risk factors, including the number of automobiles, homes, and recreational vehicles you own. You can have peace of mind with so much extra liability coverage for just a few dollars a month.

Only the rich need umbrella insurance.

Umbrella insurance can benefit everyone. It’s even more important for low- and middle-income families that may not have enough assets if they face a lawsuit. Many standard policies won’t cover the money for a lawsuit, while an umbrella policy will. Not only will umbrella insurance provide an additional layer of protection, but it also provides some additional coverage.

An umbrella policy will be the first policy paid out.

Umbrella policies are secondary coverage. It won’t kick into until the primary home or auto policy has been exhausted. You won’t even be able to get umbrella insurance without having certain minimums for these policies already in place.

Umbrella policies are hard to coordinate with other policies.

If you have policies with other insurance companies it can be hard to coordinate coverage, but if you want to take the guesswork out of your coverage you can consolidate policies with BenefitSource Insurance Services Inc.

Umbrella policies will cover personal belongings.

Umbrella policies are liability policies, which means that they won’t cover any property such as the home, the contents, or your autos. Umbrella policies are there to provide extra protection for expensive items, such as art or jewelry.

Contact BenefitSource Insurance Services Inc. serving Aliso Viejo, CA, to get a quote on umbrella insurance.