Your renter’s insurance plan only goes so far in Mount Prospect, IL. You need protection that goes beyond the standard indemnity plan to ensure there is no loss to your personal property when the unimaginable happens. Com-Co Insurance Agency can help you understand the details about umbrella insurance so you can determine if it is right for your lifestyle. 

What is umbrella insurance?

Umbrella insurance is an indemnity plan that provides financial protection when the policy limits of your standard insurance have exhausted. You can use an umbrella insurance policy for personal losses as a renter, car owner, or homeowner. You must, however, have a standard indemnity plan to reap the benefits of this “safety net” policy in Mount Prospect, IL. 

How does umbrella insurance work?

Contrary to a standard indemnity plan, umbrella insurance does not go into action until after you have filed a claim and received compensation from your traditional insurance provider. An umbrella plan may then be used to cover the remaining costs associated with an incident that your standard policy limits left out. 

Who needs umbrella insurance?

There is no official law requiring you to purchase an umbrella insurance policy. Everyone, however, should consider buying such a plan. 

A car accident in Illinois can come with serious repercussions not limited to medical bills that can wipe out your bank account. A good umbrella insurance plan can soften the impact so that you can move forward after a traumatic event. 

Call Com-Co Insurance Agency Inc. 

Our agents are experienced and always eager to help you craft the indemnity policy that best satisfies your lifestyle preferences. Call us today to learn more about umbrella insurance and to get started with a quote for coverage!