In certain situations, the limits of some auto or home insurance policies aren’t always enough to fully protect you. Luckily, by adding on a Texas umbrella insurance policy, it is possible to ensure all damages can be covered in the event of a loss — and little to none of it will have to come out of your pocket.
In Texas, umbrella insurance can save the day when a major, expensive incident occurs. For example, imagine you cause a car accident and another driver is seriously injured. Your insurance covers the accident up to the limit you previously selected — let’s say $300,000 — but because the other driver’s injuries were so severe, the $300,000 won’t cover all the damages. You would be responsible for paying the difference, which could add up to hundreds of thousands of dollars. Additionally, if you don’t have that kind of money, the other driver could sue you and send you deeper into debt. It’s a situation that could easily bankrupt the average driver in Texas.
However, with a Texas umbrella insurance policy, you have added protection from a wide range of injuries and losses that may affect you and your family. It can even protect you from certain things — like judgments for slander and libel — which are not covered under home or auto policies. Umbrella insurance supplements your existing home and car insurance, so it kicks in after you have exhausted the liability coverage from those policies. In situations where your home or car insurance policies do not apply, it offers you your first remedy for compensation.
Not sure whether Texas umbrella insurance is appropriate for you? Our insurance agents know how to analyze your existing coverage and asset limits to determine how much umbrella insurance would be right for you. We’ll ask about your unique situation, assets, and goals so we can compare quotes and find you the best total insurance package that includes an umbrella policy. We will also help you identify and manage your risk so you’re able to make changes in your daily life that lower your overall premium costs.
The cost of an umbrella policy is relatively low, but the risks of not having one are high. Contact the team at BKCW in Killeen or Austin to learn more about umbrella insurance and how you may benefit from it by calling 512-250-5055.