Umbrella Insurance in California
Litigation is a constant risk in today's world. It's wise to choose an insurance policy that can protect you from catastrophic liability claims. Umbrella insurance can provide the protection you need to remain financially secure in the event of an accident. At Rock Hard insurance Agency in Fontana, CA, we offer many policies to meet the needs of California residents.
What is an Umbrella Policy?
An umbrella policy differs from most insurance policies. It is a secondary policy, which means you have to have primary policies, usually home and auto insurance, that meet the specified requirements to qualify for umbrella insurance. An umbrella policy will kick in when you reach the coverage limits of your primary policy. It also provides coverage for things not found in your primary policy.
Umbrella policies are typically sold in increments of $1 million. Once you reach $5 million, they generally are sold in increments of $5 million. Plans range from $1 million to $20 million.
Are Umbrella Policies Only for the Rich?
No. Umbrella policies are for anyone who wishes to protect their current and future financial status. The coverage is very affordable because the claims don't have to be paid often. Most claims are filed with primary insurance policies because they don't exceed the coverage limits. However, if you find yourself in a position to file a claim, an umbrella policy offers a level of protection you won't find in your primary policy.
Even if you don't currently have $1 million or more in assets, an umbrella policy protects your financial future. If a judgment is made against you, your wages can be garnished until the claim is paid off. For the average person, it can take years or even a lifetime to pay off a $1 judgment.
Rock Hard Insurance Agency in Fontana, CA offers umbrella policies for residents of California. We are happy to discuss your financial situation and liability risk, and help you select the best policy for your needs.