The Importance ofUmbrella Insurance

Most insurance is specific to a certain realm.

Umbrella insurance is something else.

It can be used as a source of money that goes above and beyond other

types of insurance.

For example, say you have a car insurance policy that covers $100,000 and you have

the worst day of your life and cause $300,000 worth of damage.

Your car insurance policy would onlycover that first $100,000 and you’d be

on the hook for the rest.

If you had umbrella insurance, which may be up to $1 million or $2 million, you could

have the umbrella insurance cover the rest of the damages.

It’s called “umbrella” insurance because it covers so many different

areas at once

It only applies to severe cases, but those are the cases where it’s

needed the most.

Let’s say you put your bag down on the staircase in a store for a minute and

someone trips over it, falls down the stairs and gets severely injured.

The umbrella coverage would kick in for that scenario because you committed a negligent

act, and someone got hurt severely.

The only way someone can collect the money from the umbrella insurance is to

sign a release that blocks them from suing you ever again over the matter.

Insurance companies are not obligated to tell anyone that their client has umbrella coverage,

but they have to be honest when asked.

A lawyer who knows what they are doing will ask, and our firm has benefited from

knowing when to ask.

Have you been injured? If so give us a call

Phone: 617-379-1797 Toll Free: 866-528-3515

www.coluccilaw.com