Most people are unfamiliar with umbrella insurance. If you live or do business in Las Vegas, NV, you may have policies for home, auto, business, or commercial insurance through Red Rock Insurance. Those policies protect you in those specific areas.
However, sometimes that coverage isn’t enough. An umbrella policy adds a great deal of extra coverage for a surprisingly reasonable rate.
What Kinds of Umbrella Coverage Can You Get?
One common example is automobile insurance. States require a minimum amount of coverage for each driver, but the amount of coverage is often not enough. For instance, if you are responsible for serious medical injuries as part of an accident, the money is used up fast. An umbrella policy provides protection beyond what your regular policy provides.
Another common example involves commercial insurance. If someone sues the company for an amount in excess of your policy limits, it may take all the company’s resources to pay for the claim. With an umbrella policy, your protection increases.
How Does Umbrella Insurance Work?
An umbrella policy will not pay out until your regular insurance is exhausted. In other words, you need to have a policy as a basis for your umbrella policy. So if, for instance, your auto insurance has a medical limit of $100,000, the entire $100,000 must be paid before your umbrella policy kicks in. An umbrella policy covers you in bad times when your regular policy fails you.
Reach Out To Us
Living and working without umbrella insurance in Las Vegas, NV may leave you and your family exposed to unnecessary liability. If you want to have better protection or if you just have questions, call Red Rock Insurance today.