My Account
Umbrella insurance acts as a financial safety net when liability costs exceed the limits of your standard policies. It serves as additional coverage that steps in after your home, auto, or liability insurance has reached its maximum payout. If you’re facing a lawsuit in Astoria, OR, Linda Dugan Insurance can help you understand how umbrella insurance can protect you.
What Happens When a Claim Becomes a Lawsuit?
Serious incidents, such as slip-and-fall injuries, accidents caused by a family member or pet, or major car accidents, can lead to lawsuits. If the injured party sues and the damages are significant, your primary insurance policy will cover costs up to its limit. Once that limit is reached, your umbrella policy can step in to cover the remaining expenses.
How Primary Policies Work
Your base insurance policies typically cover legal defense costs, settlements, or court judgments, but only up to the policy’s limit. If the costs of a lawsuit exceed this limit, having an umbrella insurance policy can provide additional protection.
When Does Umbrella Insurance Kick In?
Umbrella insurance activates once the limits of your underlying policies are exhausted. It can cover the remaining settlement or judgment, as well as legal defense costs. This type of insurance protects personal assets, including savings, investments, and even future income. Umbrella insurance covers multiple claims, including homeowners and auto liability, as well as personal injury claims.
Contact Linda Dugan Insurance for Guidance
Understanding what umbrella insurance covers and what it does not is essential for homeowners and business owners in Astoria, OR. If you’re facing a potential lawsuit and need expert advice about your umbrella policy, contact Linda Dugan Insurance today. We’re here to help you navigate your coverage options and protect your financial future.
