Business, as well as property owners in Austin, TX, have a reason to smile as they have yet another chance to protect themselves and their businesses. Umbrella insurance or excess liability coverage ensure that you’re completely covered by providing extra coverage beyond the primary home, boat, motorcycle, condo, commercial and other fundamental insurance policies.
At Ty Lawrence Insurance Agency, we recommend this insurance to individuals who needs extra protection and those with valuable assets and properties or big businesses that may need extra cover. We also provide guidance on which package best suits your needs based on what you own. So what are the coverage options available for umbrella insurance?
- Property damage: Protect your property from damages or destruction that may come up as a result car crash, fire or burglary.
- Bodily injury coverage: This policy covers medical bills that may come up due to injuries that your guests or neighbors may sustain while at your home.
- Libel or slander: In case you land on a lawsuit whereby you have been sued by another party for something you did, say or wrote, this policy helps provide the necessary protection.
- Landlord: As a landlord, you may not limit the number of guests who enter your property. You may also not be able to prevent falls, slides, and damages by your tenants and as a result, some may get injured and sue you for the injuries.
It is quite substantial to keep in mind that umbrella insurance cannot be used as it is—it is not self-independent. This policy only acts as additional coverage whereby the standard home or auto insurance must be used and exhausted before embarking on umbrella insurance. To know more about how you can add coverages for your assets, insurance experts from Ty Lawrence Insurance Agency can help you. Call us or visit us in Austin, TX today.