A Quick Description of Umbrella Insurance

Umbrella insurance is really just a catch-all term for extra liability insurance. It’s a way to go above and beyond your current protection to give you extra coverage should you land yourself in a legal mess. Those in Peoria, AZ who want to protect themselves, their families, and their livelihoods can consider umbrella insurance as a way to give them additional protection. Keep this explanation in mind before looking for policies, courtesy of Schaller & Thomas Family Insurance. 

Legal Fees 

A single undeserved liability claim against you will need to be fought in court, which requires costs ranging from court costs to lawyer fees to time and opportunities lost away from work. Cases may be dragged on for weeks or even months as everyone gets their evidence and appeals in order. If you have someone who’s determined to win the case however they can, you may end up having to spend far more than you realized to put the matter to bed. 

Reputation 

Sometimes when people’s names are dragged through the mud, it’s entirely deserved. But sometimes, it’s based on false allegations that are entirely fabricated by a single entity. Even though a case may be far less expensive to settle, a business leader may be hesitant to settle because it will look as though they did something wrong. Umbrella insurance is there to help handle the less tangible costs of reputation loss. It helps the holder take back control to clear themselves in the public eye against the charges. 

Calling Schaller & Thomas Family Insurance is a great way to learn more about how umbrella insurance can help you. If you live in Peoria, AZ, we can help you decide on a policy that can keep you safe from potential claims that come your way.