Do you have umbrella insurance in Mount Prospect, IL? Most people don’t see the need for umbrella insurance, but after facing a significant lawsuit, that’s where most people regret not buying this coverage. Umbrella insurance saves the day when your underlying policies are exhausted. This way, you don’t have to sell your assets or cash out your savings to settle liability claims.

Now that you have decided to buy umbrella insurance from Com-Co Insurance Agency Inc., here are four facts you should know about this coverage.

Umbrella insurance is liability coverage.

Don’t let the word “umbrella” confuse you. Umbrella insurance doesn’t cover all your risks — it’s liability coverage. This means that this policy covers you when accused by third parties of causing property damage or bodily injury.

It’s super-affordable

Most people often think umbrella insurance is expensive because it gives high and broad coverage. The reality is that umbrella insurance is quite affordable because it takes over after the underlying policy has been exhausted.

It has no geographical limitations.

Your car or home liability insurance only protects you within the borders of the US. However, this isn’t a limitation of umbrella insurance. This coverage covers you anywhere in the world as long as you are up to date with your premiums.

It has exclusions and limitations.

Like most insurance policies, umbrella insurance has exclusions. Typical umbrella insurance won’t cover the below:

• Own injuries
• Damage to your property
• Intentional or criminal acts
• Breach of contract

Please refer to your policy document if you want to learn more about your policy’s exclusions and limitations. You could also get in touch with your insurance agent for more clarification.

Purchase umbrella insurance today!

Would you like to boost your home, auto, or boat insurance with umbrella insurance? Please look no further than Com-Co Insurance Agency Inc. We offer comprehensive yet affordable insurance policies.