Umbrella Insurance
No matter what type of property you own in Texas, it is critical that it is protected at all times. While you may carry standard policies with liability coverage, there are some instances where that coverage may not be enough for the damages. With umbrella insurance from G&T Insurance Agency, you can get the financial coverage you need and protect your assets simultaneously.
What is Umbrella Insurance?
This supplemental option can be added to your home, commercial, or auto insurance policies. When you have exhausted all of your liability from your standard policy, you can then make a claim with your umbrella insurance to cover the difference. Without umbrella insurance, many Texas residents have found themselves having to sell parts of their estates, businesses, and other assets.
How Much Umbrella Insurance Do You Need?
Depending on the value of your current assets, you will need an umbrella insurance policy that covers the total value of your assets as the minimum amount of your policy. These assets include the following:
- Primary residence and vacation homes
- Rental properties
- Commercial Properties
- Acreage
- Farm Equipment
- Vehicles and Motorcycles
- Recreational Vehicles (ATVs, UTVs, and Golf Carts)
- Boats/Watercraft
The property that can be seized first and then sold to make payment will be the first asset to go. Your umbrella insurance should also cover your current and future salary for the next two decades and any savings accounts you may have. These accounts can be frozen and then liquidated later if your insurance does not meet the payment requirements and you do not have the cash to cover the expenses.
Are You Ready for An Umbrella Insurance Policy?
At G&T Insurance Agency, our agents can help you determine how much you need in your umbrella insurance policy so that your assets are always protected. Contact us today for more information and let us answer any questions. We look forward to working with you soon.
