At Love Insurance Services, we offer liability insurance policies that protect both individuals and businesses. One of the most crucial policies an individual in Niceville, FL, can purchase enhances their overall liability coverage. Adding a personal umbrella policy to your existing liability coverage increases your protection by about a million dollars.

Who Needs Personal Umbrella Coverage?

Individuals with increased liability, such as community volunteers, sports coaches, and those who frequently entertain at their homes, require the extra liability coverage provided by umbrella insurance. This is a type of secondary insurance. Homeowners, renters, and auto insurance policies each include liability coverage but may not sufficiently cover a community leader’s needs. These insurance policies function as the primary insurance necessary to purchase an umbrella policy.

How Umbrella Insurance Works

Let’s say an accidental drowning occurs at a community volunteer’s swimming pool during a fundraiser. In this case, the homeowners’ insurance pays out first, covering hospital bills, funeral expenses, court settlements, and other costs. However, in many instances, it doesn’t cover all expenses, leading the policy owner who doesn’t have an umbrella policy to pay out of pocket for the remaining costs. On the other hand, those who own an umbrella policy can have it pick up where the homeowners’ policy ended, paying the rest of the bills and settlement.

Contact Your Insurance Agent Today

Call or email Love Insurance Services today to add an umbrella policy to your coverage. Increasing your liability coverage safeguards your financial security by covering liabilities arising from events at your Niceville, FL, home or while traveling.

Love Insurance Services can help you protect your Niceville, FL area business. Now’s an ideal time to learn more about the ways umbrella insurance can help protect your business. Contact us today to schedule your consultation, and let us help you keep your Florida business protected.

Benefits of Umbrella Insurance

Umbrella insurance is a type of policy that steps up in the event that your primary policy is exhausted by policy maximums. This type of scenario usually occurs when there’s a lawsuit or other award of damages. If the amount is high, it can completely wipe out all the liability insurance that your company has in place. If this were to occur, it could fall to the company owners to pay the uncovered amount. Depending on the structure of your company and how ownership is set up, it’s possible for you to become personally liable.

When your company has an umbrella policy in place, your personal finances are protected. This supplemental liability coverage is especially important for any company that operates in a highly litigious industry. If you’re the victim of frivolous lawsuits or have had opportunistic slip-and-fall suits brought against you, umbrella insurance is a great idea. With this coverage in place, you’ll be able to focus on your core business without having to worry that one accident could wipe out all of your hard work. Owning a business takes a lot of dedication, so you need to protect your investment.

Let us help you protect your business!

Business owners and operators in the greater Niceville, FL area can turn to the team at Love Insurance Services. We can help you with all of your commercial insurance needs, including umbrella policies. Contact us today to set up a consultation to find out more about our services.