Explaining Umbrella Insurance in TX: When Basic Coverage Isn't Enough
Being an owner, landlord, or someone having
ample assets, umbrella insurance gives another level of protection that could
save you from major out-of-pocket expenses in case of an event that leads to a
lawsuit or a major claim.
What
Is Umbrella Insurance?
An umbrella policy is extra liability coverage issued when the limits of your existing policies—homeowners, auto, or landlord insurance in TX—are reached. It is intended to safeguard your savings and investments, as well as future earnings of the following:
●
Legal claims or lawsuits for
●
Property damage liability
●
Bodily injury liability
● Certain personal liability situations (e.g., libel or slander)"
Example:
If somebody gets injured on your rental
property and sues you for $750,000, but your landlord insurance coverage pays
only $500,000, your umbrella insurance policy will step in to cover the balance
of $250,000.
Reasons
for Texans to Consider Getting Umbrella Insurance
High-dollar lawsuits and bizarre liabilities occur frequently in the state of Texas. Any large claim resulting from either a serious auto accident or a property injury will easily overwhelm one's standard insurance policy limits.
Here is why a good number of Texans now carry umbrella insurance:
●
Injury-related lawsuits involving high medical
costs
●
Property ownership, especially rentals
●
Teen drivers or multiple cars in the house
●
Publicity from business or community engagement
●
Extra peace of mind than basic policies offer
Landlords:
This One's Especially for You
If you own rental property, umbrella insurance is a smart supplement to your landlord insurance in TX. It protects against liability claims from tenants, guests, or even maintenance contractors—particularly those that exceed standard policy limits.
When you're responsible for other people's
safety on your property, the risk increases. Umbrella insurance ensures you're
covered if a claim gets serious.
Get
Expert Insurance Services in Marble Falls, TX
Grissom Insurance Group is proud to offer customized insurance services in MarbleFalls, TX, and its surrounding locales. Whether it's your home, business, or rental property you wish to insure, our local agents will assist you in creating a custom insurance plan that includes:
●
Home and auto insurance
●
Landlord insurance and rental property
coverage
●
Comprehensive umbrella insurance coverage
● Business and liability coverage
We truly know the risks Texas residents and
landlords deal with, which is why we are here to make sure you're not just
insured but protected.
Final
Thoughts
Your current policies may offer a basic level of protection, but very often, they leave you bare when the unexpected comes—umbrella insurance offers that alternative layer of security that can really make a difference.
If you are not sure if umbrella insurance is the right fit for you, the experts at Grissom Insurance will be able to assist you. The experienced team offers the most trusted insurance services in Marble Falls, TX, and will be there with you all the way.
Contact us today at Grissom Insurance Group to
learn more or get a free quote.
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