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Your home, car, and business insurance policies offer considerable liability protection and give you peace of mind. You know you're covered if disaster strikes. However, those policies usually list exclusions—events or items that are not covered—and place upper limits on the amount of reimbursement. If you find you desire more liability protection, umbrella insurance is a terrific solution. In the sections below, Cundiff & Company Insurance, a respected independent agency in Somerset, KY, discusses what umbrella insurance is and why you need it.

What Is Umbrella Insurance?

Umbrella insurance in Somerset, KYUmbrella insurance is a type of supplementary liability coverage that works in conjunction with your existing policies to offer greater protection and prevent catastrophic losses. It is normally quite affordable because it does not kick in until you reach the limits of your regular policies. 

Why Do You Need Umbrella Insurance?

Medical costs after an auto accident can easily reach hundreds of thousands of dollars, while the minimum required bodily injury liability coverage in Kentucky is only $50,000 for all injured parties. If you are at fault in an accident, you could be liable for the difference. It is particularly important to protect yourself with umbrella insurance if you have considerable assets (savings, investments, property) because you could be required to forfeit them if a judgment goes against you. However, umbrella coverage is vital even if you do not have significant assets, since a judgment could tie up your future earnings as well as seize your current assets.

If you're concerned you don't have the liability coverage you need, Cundiff & Company Insurance in Somerset, KY, can help. They'll work with you to design an umbrella policy that fills in the gaps of your other policies and raises your protection limits to an amount that makes you feel secure. Visit their website for contact information, or call (606) 679-8379 to request a free quote.

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