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The Nuts & Bolts of Personal Umbrella Insurance in N. Dallas-Frisco-Plano

Posted by Tri-Star Insurance in Dallas-Fort Worth-Arlington, TX on Jul 10, 2008

When you are reviewing your insurance needs, you are likely to realize that you need homeowners insurance or renter's insurance, car insurance, boat insurance, if applicable,

and health insurance, but have you considered adding an umbrella insurance policy to your insurance portfolio? Many people may not even know what umbrella insurance is, but Tri-Star Insurance wants you to be aware of all of your insurance needs. Roger Harkins and his insurance staff have been meeting the needs of individuals and families in the North Dallas, Frisco and Plano, TX area for years and they can provide you with complete information about umbrella insurance, as well as all of your other insurance needs.

Your homeowners insurance, as well as your car and boat insurance all provide coverage for personal liability in case of an accident that causes damage and/or injuries. Liability insurance is required by law in Texas and for good reason. The expense and cost of damages to property from an accident can rise rapidly and when serious personal injury is involved as well, those costs can shoot out of sight in a big hurry. If damages result in a lawsuit, the dollar amounts can easily escalate into hundreds of thousands, even millions of dollars. Your current liability insurance isn't likely to cover anywhere near those amounts of money.

No one wants to think of ever being liable for an accident that causes damages and injury to another person, but accidents do happen every day. In the age we live in, responsibility and liability for severe damage and injury quite often winds up being decided in a courtroom. If you aren't independently wealthy, a loss in a legal fight can cost you dearly. Those costs can include your home, your vehicle, your life savings and even your future earnings. Even if you win your court case, you can still be found liable for court costs and attorney's fees, which can be substantial. To prevent the potential loss of your financial security, an umbrella insurance policy is becoming a necessary piece of your insurance portfolio.

An umbrella policy picks up where your other insurance leaves off. Your homeowners, auto and boat insurance coverage will only pay up to a predetermined amount of money. If expenses rise above that amount, umbrella insurance covers the additional expense. Umbrella policies typically provide coverage from one to five million dollars, sometimes even more.

Who Needs Umbrella Insurance?

If you own considerable assets, such as a home, a couple of cars, maybe a boat and a bank account, including retirement accounts, you really should consider an umbrella insurance policy. The cost is minimal, considering the potential financial disaster you could find yourself in because of an accidental injury or property damage.

Tri-Star insurance has a knowledgeable, professional staff that knows how to help you determine the types and amount of insurance coverage that will protect you and your assets, including umbrella insurance. Call 214-387-0600 or call toll-free at 1-800-880-4600 today and talk to an agent at Tri-Star Insurance Professionals about an umbrella insurance policy to protect your future.