Our team at Coastal Premier Insurance Group is proud to work with a number of Boca Raton FL residents and car owners to help them get them the right insurance coverage for their needs. One type of coverage that is less well-known but offers some significant advantages is umbrella insurance — and the one area where it most often comes in handy is in auto accidents.
Will Boca Raton, FL Umbrella Insurance Help Pay After a Car Accident?
Short answer: Absolutely!
Umbrella insurance is insurance designed to protect policyholders from large and sometimes devastating liability claims or judgments. This type of insurance policy typically covers bodily injury, personal injury, property damage, and landlord liability, and what’s unique about it is that it covers it all.
This is because unlike an auto policy that only comes in play for automobile-related accidents or homeowner’s insurance that only comes in play for property-related accidents, an umbrella insurance policy can come into play in any such situation. This specialized policy will come into effect whenever any underlying liability limits, such as those from your auto insurance policy, have been met but the damages or lawsuit claims have not.
So, for example, if you are in a car accident that was all or mostly your fault and your automotive policy won’t cover all the other driver’s property damages, then your umbrella insurance policy will enact. If your automotive policy limit offers to $50,000 property damage but the other driver seeks out $75,000 worth of claims, then your automotive insurance will pay the $50,000 and your umbrella insurance will cover the remaining $25,000 (or up to its own policy limits).
Learn More About Umbrella Insurance
Contact our team at Coastal Premier Insurance Group to more about how umbrella insurance policies can come in real handy.