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Does Umbrella Insurance Replace My Other Insurance Policies?

Most homeowners maintain home or condo insurance for their residences and auto insurance for their vehicles. Depending on their circumstances, they may also hold other insurance policies. Typically, those policies protect them against unexpected liabilities or losses. At the same time, umbrella insurance offers protection above and beyond the underlying policies and protection against certain lawsuits and other legal actions. If you have questions about your coverage, including umbrella insurance, contact our America’s Top Insurance team, which serves the Gahanna, OH, area.

Umbrella Insurance Supplements Primary Policies

Umbrella insurance sits atop other insurance policies; it does not replace primary insurance coverage.

Your home and auto policies are the foundation of your coverage. They offer protection against claims for specific cover events up to a set limit or dollar amount. Most claims remain under the limits of those policies. However, if an incident results in liabilities above those coverage limits, you are responsible for the difference, potentially putting your home, savings, or other assets at risk.

As the name implies, umbrella insurance shields you from those claims by providing extended protection and paying out only if your liabilities exceed your primary policy limits. Umbrella insurance is a secondary policy, so you must have primary auto, home, or other policies to obtain umbrella coverage.

Umbrella insurance only sometimes activates, which is why it is relatively inexpensive. Likewise, the higher the limits on your primary policies, the lower the cost of your umbrella insurance.

Obtaining Umbrella Insurance Through America’s Top Insurance

You can take comfort in knowing that umbrella insurance provides you and your family with an extra blanket of protection. If you live in or near Gahanna, OH, call us at (614) 733-8630 or stop by to see our America’s Top Insurance team.

Why Does Umbrella Insurance Increase in Importance as People Age?

America’s Top Insurance offers Gahanna, OH, residents additional liability insurance protection called umbrella insurance. This subsidiary insurance policy becomes increasingly important as people age. We will explore why in this blog.

What Umbrella Coverage Does

Your home, renters, condo, or auto insurance includes a modest liability component. The coverage typically includes enough insurance to pay for a minor injury or accident. Any amount it does not cover comes out of the individual’s pocket unless they carry umbrella insurance. Those who carry an umbrella policy have an insurance scheme that provides a million dollars or more in coverage. When the primary policy pays out, the umbrella policy begins to cover the rest of the medical costs, settlement, etc.

The Age Caveat

When a young person is responsible for an accident, their primary policy pays out to its maximum. If they do not have an umbrella policy, they withdraw money from their savings and retirement accounts to pay off the settlement or medical bills. A 25-year-old has 40 years to compensate for the money they had to spend, enabling them to spread out the repayments to their retirement fund over four decades.

As individuals age and approach retirement, they have less time to recover from large expenditures like court settlements that require them to dip into their retirement savings. Those aged 40 and older in high-liability careers should acquire umbrella coverage to ensure they have sufficient liability insurance. The insurance pays the settlements, and the individual retains their retirement account intact.

Contact Us Today

Allow America’s Top Insurance to help you secure your financial future in Gahanna, OH. With umbrella coverage, you pay a few dollars monthly to obtain coverage that protects your financial future.

Why Umbrella Insurance? Because You Can Never be Too Safe

Having umbrella insurance is a lot like standing under an insurance umbrella when it rains because it will keep you dry even under the heaviest downpour. That is also why residents in Gahanna, OH and the Columbus area rely on America’s Top Insurance for the protection they need when the skies open up.

Why Umbrella Insurance? Because You Can Never be Too Safe

You have auto insurance. Great. And, of course, your home is insured, perfect. What if, however, an auto accident exceeds your policy limits? What if there is an unforeseen liability claim on your property that isn’t in the realm of property damage covered by your homeowner’s insurance?

Why umbrella insurance? Because you can never be too safe from the "what ifs" that life can throw at us. And the truth is, we never know when what-if will come knocking.

Umbrella Insurance: For the Unknown, Unforeseen, and Unpredictable

The good news, however, is that for the unknown, unseen, and unpredictable, umbrella insurance can fill in the gaps. In other words, umbrella insurance is there to cover the what-ifs and protect people from liability that could otherwise bankrupt us. 

Many scenarios, from pet ownership and having children, to income levels or having amenities like swimming pools, can increase the value and need for umbrella insurance. With the help of experienced and friendly agents, you can determine if umbrella insurance is a good fit for you and your family and your risk of experiencing the unknown, unforeseen, and unpredictable.

For All Your Umbrella Insurance Needs

If you live in or around Gahanna, OH and think you could benefit from umbrella insurance or would like to learn more, the team at America’s Top Insurance can help. Contact us today to get started and get under the umbrella before it rains.

Why Umbrella Insurance Is Beneficial for Ohio Business Owners

Gahanna, OH area business owners turn to America’s Top Insurance for all of their commercial insurance needs. Liability protection becomes more important as your business grows. Adding an umbrella policy to your primary policy is an effective way to increase your protection. If you’re a business owner and want to learn more about the benefits of umbrella insurance, contact us today to schedule a consultation.

What Ohio Business Owners Need to Know About Umbrella Insurance

There are many reasons to add an umbrella policy to your company’s insurance portfolio. If you need additional liability protection than what your primary policy provides, it’s time to learn more about umbrella insurance. This is a supplemental policy that comes into play when the liability coverage maximums on your primary policy are exhausted.

Umbrella insurance is especially important for any businesses that operate in industries that are highly litigious. One frivolous lawsuit could be enough to wipe out many years of hard work and dedication. If you’re concerned about liability protection, now is an ideal time to learn more. 

There are a number of different policy options available. The next step to take is to call to schedule a consultation with your local agent. You’ll be able to learn more about what’s available and how you can protect your company with an appropriate level of protection. Don’t hesitate when it comes to exploring all the tools that are available to provide the coverage your business needs.

Schedule a consultation today!

The commercial insurance pros at America’s Top Insurance are proud to serve the business community of Gahanna, OH. Give us a call today to schedule a time to come in to learn more about the many benefits of umbrella insurance. We look forward to working with you!

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