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If you own property, you probably already have insurance to protect against liability concerns; however, you may need more coverage than a basic policy provides. Peoria, AZ umbrella insurance can address concerns related to the possibility of facing a court case after an accident occurs. You can work with an independent agency like Schaller & Thomas Family Insurance to find the Arizona policy that is best for your goals and concerns.
What is Covered
While every insurance policy offers different details and situations that are covered, an umbrella policy will usually protect against high-cost situations that relate to liability. For example, if you get into an auto accident and the other party sues you, then your umbrella coverage may apply to the situation.
The plan may pay for medical bills, a settlement and court fees associated with being sued. It usually applies to the situation after your primary insurance has paid the maximum amount that is available on your policy.
Who Needs the Plan
Risks associated with being sued can seem to impact a small portion of the population, but they can actually impact many different individuals. Even if you do not have an expensive vehicle, you may be sued if you cause a serious accident and the other party is injured.
Generally, most drivers and homeowners can benefit from an umbrella policy because it protects personal assets. It is usually best to purchase a policy that is large enough to protect all of your personal assets. When you work with an agency like Schaller & Thomas Family Insurance, an agent will assist with the process of narrowing down your options and can explain the details of the policy so that you can find the right plan.
There are several reasons to purchase umbrella coverage. Contact us to talk to an agent and learn more today.