Umbrella Insurance in Tallahassee, Havana, FL, Quincy, FL & Nearby Cities

Umbrella Insurance in Tallahassee, Monticello, FL, Crawfordville, Havana, FL, Quincy, FL

What Should You Look for in Umbrella Insurance?

Umbrella insurance is a type of liability coverage that provides additional protection beyond the limits of your auto, home, or renters insurance. Pichard Insurance Agency offers umbrella insurance in Tallahassee, Monticello, FL, Crawfordville, Havana, FL, Quincy, FL and surrounding areas.

When considering umbrella insurance, it’s important to evaluate several key factors to ensure you get the coverage that best meets your needs:

  1. Coverage Limits

Umbrella policies typically offer coverage in increments of $1 million. Consider how much liability coverage you need based on your assets and risk exposure. If you have substantial assets (such as a high-value home, savings, or investments), opting for higher limits may be wise to protect your wealth in case of a major lawsuit.

  1. Policy Exclusions

Read the fine print to understand what’s excluded from coverage. Common exclusions can include claims related to business activities, intentional acts, or certain types of property damage. Be aware of these limitations and determine if you need additional coverage to fill gaps

  1. Underlying Insurance Requirements

Most umbrella policies require you to have a minimum level of coverage on your underlying home, auto, or renters insurance. Ensure that your current policies meet these requirements to avoid any issues when filing a claim

  1. Affordability

Umbrella insurance is generally affordable, with premiums ranging from $150 to $300 per year for $1 million in coverage. Compare quotes from multiple insurers to find the best deal, but don’t prioritize cost over coverage. The potential financial protection an umbrella policy offers can outweigh the modest price.

  1. Claims Handling

Research the insurer’s reputation for handling claims. A company that is responsive and has a strong history of settling claims efficiently can make a big difference in a stressful situation. Look for reviews and ratings from reliable sources like J.D. Power or AM Best.

  1. Additional Coverage Options

Some policies offer specialized coverage, such as protection against defamation or coverage for legal defense costs. These options can add significant value, especially if your lifestyle involves higher risks, like public visibility or traveling frequently.

In conclusion, choosing the right umbrella insurance involves assessing your needs, understanding exclusions, and balancing cost with comprehensive coverage. Call us anytime if you need more information.

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Contact Pichard Insurance Agency today.
850-877-8029