Umbrella Insurance

When you purchase a new home or auto, your next step, often before the deal is done, is to get insurance. Often this is a requirement of the home or auto lender but it is for your financial protection, as well. The agents at Leon Insurance LLC work with Maryland residents to get the coverage they need. In addition to your basic policies, consider adding an umbrella policy.

How Does Umbrella Insurance Protect You?

An umbrella policy is a secondary liability policy. It goes into effect when the home or auto insurance policy limits are exceeded. For instance, if someone is injured on your property and you are deemed negligent or liable for the accident, you are responsible for their medical fees and the costs of rehabilitation. Should they decide to sue you, you could be held responsible for legal fees. Medical and legal fees can quickly exhaust the policy limits leaving you personally responsible for the additional monies. For instance, if your policy states that it covers up to $350,000, but medical and legal fees are $500,000, an umbrella policy will cover the additional expenses. An umbrella policy is an economical way to financially protect you, your family and your assets.

But I’m Not Wealthy

Many erroneously consider an umbrella policy to be designed for wealthy people with many assets. Umbrella policies protect everyone for an affordable price. Without it, your future wages could be garnished to pay the additional debt. Umbrella policies can also provide coverage in cases such as libel or slander – something other policies do not.

The team at Leon Insurance LLC will take the time to get to know you then discuss coverage that is appropriate for your situation. They can also discuss the finer points of umbrella insurance and its benefits. In Maryland, take time to discuss your options with the experts. Call or visit their offices today for the protection you need.

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