When you purchase a home or car, you immediately secure appropriate insurance for these assets to protect against accident damage or any resulting liability. In the Meridian, ID area, your Idaho Select Insurance will also talk with you about adding umbrella insurance. Umbrella insurance policies provide an additional level of coverage that goes into effect when you really need it most. 

If there is a car accident where you are deemed liable, the injured party can sue for damages and medical expenses. The same holds true if someone is injured at your home due to your negligence. While your homeowner’s policy and car insurance policy will provide monies in these situations, the amount of the damages can be greater than the policy’s limits. You will be responsible for any amount over the coverage limit. In cases where there are significant medical expenses and/or legal fees, the impact to your assets will be great.  In these circumstances, it is important to have an appropriate umbrella policy in place. For instance, if someone is injured in your home and you are deemed negligent, your homeowner’s policy may state that the coverage limit is $350,000. If the medical expenses and legal fees amount to $500,000, an umbrella policy will go into effect and cover the additional costs. This type of coverage can significantly protect a family’s assets. 

Also, umbrella policies can cover special events such as libel or slander cases that other policies do not. Your agent at Idaho Select Insurance understands the needs of the residents the serve in the Meridian, ID area. They can help answer any questions and provide viable coverage options. Visit their website then give them a call today!