Your entire life savings could be wiped out by one accident. Major catastrophes like that are rare, but they do happen so there is umbrella insurance to protect you in that situation. At Wagner Insurance Agency LLC, we offer umbrella insurance coverage to help people protect their property because major accidents happen. The value of such a policy is that it gives you peace of mind. Even if something awful does happen, your assets and life savings will be protected.
Insurance policies have limits, and umbrella coverage comes into play when those limits are exceeded. If you were in a severe automobile accident and your policy had a $300,000 liability limit, and you caused $400,000 in damages, you would still owe $100,000. There are lawsuits that result in millions of dollars being awarded. One lawsuit like that would wipe out most people. Umbrella coverage can also cover you in legal matters such as libel or other personal lawsuits.
People who have a lot of assets, or who are perhaps celebrities of some kind, could benefit from this type of policy. People who are nearing retirement and have substantial life savings could protect that money with an umbrella package. If someone falls on your property and is injured, they could sue you and you could be liable for a lot of money.
Call Wagner Insurance Agency LLC today to learn more about this type of coverage. We can answer any questions you have about umbrella insurance coverage, and we can help you get the policy that is best for your situation. This policy is designed to protect people with substantial assets. Keep in mind that there are unscrupulous people around looking for an opportunity to sue someone who has of money or property. Get an umbrella policy to protect yourself and have peace of mind.
With offices located in Lake Park and Hawley, MN, we serve clients across Minnesota and North Dakota.
