Why You Need Umbrella Insurance

Why You Need Umbrella Insurance

Umbrella insurance is an excellent option for people whose assets become valuable enough to be subject to seizure for legal damages exceeding their base policy coverage. Whether your auto, home, or medical insurance coverage maximums can handle the cost of damages, depends on how severe and costly the incident.

When much of that relies on your ability to manage your property and assets wisely, it also requires you to maintain responsibility for all the functions associated with owning, operating, and managing capital within our legal system.

It also becomes your responsibility to protect yourself from financial-threatening liabilities that may be out of your control, as much of this relies on chance and good fortune.

Say, for example, you get into a car accident and are deemed at-fault in a court ruling. You were hardly injured, but the five executives in the car you hit, who were meeting on company business, are not so fortunate. The large company that employs them sues you for what accumulates to over one million dollars in damages. Your $250,000 policy only manages to cover you and one of those five executives, so what happens next?

They pursue your assets, your investments, and your personal belongings to satisfy the damages you are now responsible for. Your $400,000 retirement plan: gone. Your $500,000 home, fully paid off, is now on the table for seizure. All because of a single accident.

Bachmann-Zeitlin Insurance Agency’s umbrella insurance policies aim to prevent financial disasters such as this. With policies costing pennies on the dollar of the damages they cover, it’s a “no-brainer” for people with valuable assets they want to protect. Typical umbrella insurance policies begin at the $1 million, but for the most accurate rates and pricing information on the Bachmann-Zeitlin Insurance Agency’s umbrella insurance policies, please contact us by calling at 267-288-5193.

Because not all business damages are covered in umbrella policies, those seeking business insurance in Delaware County, PA should contact the Bachmann-Zeitlin Insurance Agency to learn more about comprehensive dual policy solutions to meet your business’s unique needs.

Those interested in learning about the other insurance options, such as business insurance in Montgomery County, PA, the Bachmann-Zeitlin Insurance Agency provides should continue to review the products section.

As your most comprehensive Philadelphia insurer, we look forward to serving you!

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