Umbrella Liability Insurance
Hosto Provides Great Deals On Umbrella Liability Insurance In Edwardsville, Glen Carbon, Maryville And Troy
What is Umbrella Liability Insurance?
Umbrella liability insurance is a specific type of personal liability insurance. An umbrella policy provides additional coverage that kicks in when your other insurance has been exhausted. For example, if your auto insurance policy has covered the maximum amount for the year and you experience another accident.
What Does Umbrella Insurance Cover?
Umbrella liability insurance covers a broad range of life events. These range from fire or water damage to personal injury such as your pet biting a neighbor. When these things happen, you’ll be glad you have extra coverage. Umbrella liability policies cover you, your spouse, and any family members living in your household. They can also cover your legal defense fees.
Often, the incidents that end up using umbrella liability insurance are more complex or more costly than the average home or auto incident. For example, being found at fault for a multiple vehicle accident. Your auto policy may not provide enough coverage to pay for the repair or replacement of multiple vehicles. In this case, you’ll be relieved to find that your umbrella policy covers the additional expenses.
Who Should Have an Umbrella Liability Policy?
A general rule of thumb is that you should consider purchasing umbrella insurance if the value of your assets is greater than the limit of your home insurance or auto insurance. Essentially, you’ll want the additional coverage if your assets would not be fully covered. Other factors would be having a higher risk of liability such as owning property, employing household staff, having a trampoline or swimming pool, or being publicly well-known in your community.
Hosto Financial can take a look at your home, auto, and other underlying insurance policies to identify gaps in coverage. Your umbrella liability policy can bridge these gaps and give you better peace of mind.
What Does Umbrella Insurance Cost?
Hosto Financial can provide you a quote and discuss your family’s circumstances in detail. We understand that every family is unique and will need unique coverage. Whether you own a house or live in an apartment, the proper insurance policy will be a welcome safety net when an incident occurs.
In general, the cost of an umbrella liability insurance policy is minimal when you consider the extent of coverage. Compared to home and auto insurance, an umbrella policy is usually much cheaper. The umbrella policy will protect your assets and future earnings no matter what life throws at you. Hosto Financial & Insurance Services is a company that cares about you and will work with you to provide the coverage you need.
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What Does Great Umbrella Liability Insurance Look Like?
In Illinois, you want your insurance policy to help you if you suffer a loss due to fire, theft, vandalism, or other covered events. A great home insurance policy will also cover you in the event someone is injured while on your property and wins a legal judgment against you.
However, insurance policies differ by the type of residence you own, what coverages you choose to include, and what particular losses are covered. No matter what type of residence you have, Hosto Financial & Insurance Services will work with you to find an Illinois home insurance policy that fits your needs. We specialize in making it simple to choose coverage that gives you the value you need for the best price.
The amount you’ll pay for an Illinois home insurance policy depends on:
- Options you choose – Options are priced individually, so how much you’ll pay for your policy depends on the coverages you buy.
- How much you want to cover – Higher deductibles usually lower your premium price by shifting part of the loss payment to you. For example, if you had a $500 deductible, you would be responsible for paying the first $500 of the covered loss.
- Where you set your limits – You may choose to set higher limits than the recommended amount if appropriate to your situation and needs.
Ask about Umbrella Insurance Policies if you wish to extend coverage.
The amount you pay for your homeowners insurance in Illinois depends on the following assets you want to protect:
- Protection for Your Home
- Protection for You and Other People
- Medical Coverage
- Additional Living Expenses
- Protection for Your Belongings
- Scheduled Personal Property Coverage
- If You Rent Out Your Home
Call Hosto Insurance @ 618-779-5808 and ask us about any of the following additions to a home insurance policy. We would be delighted to help!
Call us today @ 618-779-5808
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