What Exactly Is Umbrella Insurance

When looking through different forms of insurance coverage, you may stumble upon umbrella insurance. While not designed for rain prevention, umbrella insurance has many other benefits you’ll likely find more beneficial. At 1st American Insurance Agency, we want to make sure you are fully educated on what umbrella insurance is, regardless of if you live in Longmont, CO or somewhere else. 

What is Umbrella Insurance?

Umbrella insurance provides you with additional liability protection over what your current insurance already covers. This helps protect you from extreme claims, such as lawsuits and it will protect your assets. This kind of insurance can be applied to everything from boat insurance to auto and homeowners. You may also want to include it if you own a business. 

Added Coverage

Depending on the kind of coverage you already have, there usually is a set limit for how much you can expect. In some major claims or lawsuits, you may find the potential financial cost of these claims far outweighs the cost of what your regular insurance is able to cover. With the added umbrella insurance, you’ll protect yourself in these instances. 

What Does Umbrella Insurance Cover

There are several variables at play, but umbrella insurance typically covers varying lawsuits, property damage, injuries and a large number of personal liability situations. Your insurance provider can help you determine if umbrella coverage is right for you. 

Umbrella insurance can prove especially beneficial when it comes to protecting what you own. While there are different variables at play, a skilled insurance agent is able to help you identify the best insurance options for your needs. At 1st American Insurance Agency, we want to do what we can to educate you and inform you on available umbrella insurance policies, regardless of if you live in Longmont, CO or in the surrounding area. 

How States Differ with Minimum Recreational Vehicle Insurance Liability

You may be surprised to learn that each state has unique requirements when it comes to recreational vehicle insurance. One of the major differences among many states is that of liability. Each state will have a minimum liability that you will have to claim on your automobile insurance. This may be confusing for you, so your best bet would be to contact a company like the 1st American Insurance Agency for immediate assistance on this matter. 

The one thing that you can know for sure, is that no matter the state where you reside, you will have to get recreational vehicle insurance. This can be a hassle to sort out all of the terms and figure out what you need, but in the long-run it is well worth it. 

How to Know What You Need in Each State

Whether you are in Longmont, CO or somewhere else entirely, you can speak to an insurance agent to help you figure out the particulars about the insurance that you need. Since recreational vehicles face more risk than other automobiles, the coverage likely will be for a greater amount. Something that is important to note is that the insurance will be at a higher rate if you live somewhere in which there are more thefts and accidents occurring. 

Another aspect that impacts your insurance are the local laws and regulations. Some states will have elements of the insurance coverage that are mandatory, such as Personal Injury Protection. If this is the case where you live, it is best to know before you sign off on an insurance policy. 

If you are in the Longmont, CO area and wish to start the process of getting your recreational vehicle insurance, contact a professional at 1st American Insurance Agency today.