Even in a state known for its palm trees and sunshine, umbrella insurance in Florida is something that many people find they can’t go without, and for good reason: in today’s society, where lawsuits are often viewed as an opportunity for a financial payday rather than a fair means of recompense to right a wrong, it’s not unusual for a costly lawsuit and an even more expensive judgment to wipe someone out financially. For example, you could have, say, an excellent auto or homeowners policy offering a good amount of coverage. But consider the grave consequences if someone were to be on your property and become injured to the point where his quality of life is forever impacted…or you were out for a leisurely drive and get in an auto accident that kills the driver of the other car and paralyzes two passengers. In catastrophic situations like these, the amount of insurance on your primary policies could well fall short of covering the substantial claims.
Fortunately, an umbrella policy could save the day here. The policy is designed to afford you protection for bodily injury and property damage, beginning at the point where the primary coverage amounts of your standard insurance policies have been exhausted–offering an additional amount of coverage and additional types of coverage for risks not insured under the standard policy. As such, the policy offers protection for a wide variety of risks, and can literally save your financial life—because without an umbrella to cover you in the event an accident results in a lawsuit for an amount beyond the limits of your standard auto or homeowners policies, you would have to pay for those financial damages out of your own pocket.
Umbrella insurance in Florida is best purchased with the advice of a professional insurance agent, who will take your entire financial picture into account when advising you about how much coverage you really need. He or she will examine your tolerance for risk, the exposures you face, and the assets you have to protect in order to determine what’s right for you. Contact an agent today.