When you already have an auto insurance policy and a home insurance policy, you may feel like you’re protected against liability. However, these policies may not have as much protection as you think. Many home and auto policies are sorely lacking in their liability coverage. If you want to be better protected, getting an umbrella policy to supplement those two policies is important. This can help you to have the coverage you need, just in case. When you want an umbrella policy or to learn more, call us at 925 Partners in Jacksonville, FL.

More Liability Coverage

Accidents can happen in your home, leaving you liable for medical bills and lost wages. Accidents can happen in your car that cost you big when you have to pay for the other party’s medical bills, lost wages, and property damage. When you get an umbrella policy, it adds a large amount of extra liability coverage to both your home and auto policies. This leaves you with far more that can be paid out after a serious accident. 

Paying Overages

If you don’t have an umbrella policy, a serious accident can mean that your home or auto policy isn’t able to pay for all of the damages. When this happens, there’s an overage left over that you’ll still have to pay. This can be an enormous amount with the high cost of medical care. When you have an umbrella policy, the home or auto policy steps up first and pays up until it reaches its maximum. After that, the umbrella policy pays for the rest of the bills owed. 

Get Umbrella Insurance 

Call us today at 925 Partners in Jacksonville, FL, for better coverage.

At 925 Partners, we’re here to meet the insurance needs of consumers in Jacksonville, FL. Umbrella insurance coverage is one of the types of insurance coverage we offer.

Some consumers might not be adequately informed about umbrella insurance and how it works. Here are four things you might not know about umbrella insurance. 

A typical umbrella insurance policy is in effect worldwide.

You might not realize there aren’t usually any geographical limits on umbrella insurance policies like other types of insurance. This means that you can enjoy umbrella insurance coverage wherever you travel in the world. 

Umbrella insurance can cover landlords.

If you are a landlord who rents out properties, you should know that umbrella insurance could protect you financially in your commercial ventures. With umbrella insurance, you can enjoy added protection against liability issues you face as a landlord. 

Umbrella insurance is ideal for owners of boats and recreational vehicles.

Owning a boat or a recreational vehicle can create some significant liability risks. With umbrella insurance, you can enjoy peace of mind when using your boat or recreational vehicle since you carry added liability coverage. 

Umbrella insurance complements other insurance policies that you already have.

If you’re concerned that your auto or home insurance isn’t providing you with enough coverage, umbrella insurance is great to have. Umbrella insurance increases your coverage from a home or auto insurance policy. 

Get a quote on an umbrella insurance policy in Jacksonville, FL by calling us today at 925 Partners. We’re here to help you find the best insurance solutions for your financial situation. 

Did you know that you can buy extra insurance protection beyond the limits of your existing policies? It is called umbrella insurance, and it provides an extra layer of security where other policies stop. The insurance professionals at 925 Partners can provide this additional coverage. They serve Jacksonville, FL, and the surrounding area.

Umbrella insurance is also called excess liability insurance. For example, suppose a policyholder is sued for damages over their existing insurance policies, such as a car or home. In that case, the umbrella policy will help to pay for what is remaining.

This protection can be invaluable if you happen to be someone who has accumulated wealth. If you have private staff, such as nannies, cooks, housekeepers, or gardeners, to help you maintain your home, their employment can increase your risk of lawsuits.

You could be left with costly out-of-pocket costs that could be avoided with umbrella coverage if you or a family member are injured due to another’s negligence, such as a dog bite or car accident.

You have a lot to lose. Umbrella coverage is vital as it helps maintain adequate limits of personal excess liability coverage to protect your finances.

Do you wonder if you need umbrella insurance? Although this extra coverage would be helpful for anyone, if you have a net worth in excess of $500,000, this coverage would be for you. The more you have, the more you stand to lose. In a lawsuit, a regular car or home insurance policy, in all likelihood, will not provide enough liability coverage. This would mean you risk losing your home or draining your savings needlessly.

For that extra layer of protection, umbrella insurance can provide the peace of mind that is so important these days when lawsuits are commonplace. For a quote or answers to your questions, contact the professionals at 925 Partners Insurance today.

Are you a business owner in the greater Jacksonville, FL area? The team here at 925 Partners is available to help you with all of your commercial insurance needs. Our team can help whether it’s time to upgrade your current policy or add an umbrella policy to your commercial insurance portfolio. Give us a call today to schedule a consultation. 

Is it time for an umbrella policy for your business?

Protecting a business from loss, liability, or damage can feel impossible. While there’s no guarantee that the future will work out the way you want it to, it is possible to be prepared for the unexpected.

Umbrella insurance is an effective way to ensure that your business will be able to weather most storms and continue thriving into the future. When your primary commercial policy is exhausted due to policy limits, having an umbrella policy already in place can help to fill any gaps.

This type of policy is a secondary one that will come into play when your company experiences significant losses that exhaust the primary policy of record.

With an umbrella policy, you can continue to receive coverage and help to protect your company’s assets, inventory, and equipment. And depending on the way that your firm is structured, having the right umbrella policy in place can also help protect the company’s principals from personal liability. Find out more today! 

You can count on us

925 Partners is proud to serve the business community of the greater Jacksonville, FL area. If it’s time to upgrade your company’s insurance, call us today. We can schedule a consultation to review your options and help your company get its coverage.

Who should buy umbrella insurance in Jacksonville, FL?

Ever wondered why most of your standard home or auto policies have liability coverage? Our litigious society makes us vulnerable to lawsuits that are often too expensive to pay. Insurance companies in Jacksonville, FL are keen to ensure that policyholders have enough liability coverage to help pay for legal fees if they’re sued.  That’s why 925 Partners recommend having umbrella insurance. So, who should buy umbrella insurance? Is it necessary? Read on to find out!

Car or boat owners

If you cause a car or boat accident, expenses can quickly skyrocket, especially if there are multiple people injured or multiple vehicles involved. Without enough liability to cover property damage and injuries, you may end up getting sued. With umbrella insurance, you don’t have to worry if your car or boat insurance is not enough, as the policy will pay the rest.

Parents

Being a parent in Jacksonville, FL, especially to young children, means dealing with cases of property damage and injuries. If your child hits another child or damages a neighbor’s property, you will be held accountable for the injuries or damages. It’s worse if you’re sued.

Business people

As a business person, you’re more likely to get sued by your customers or employees for various reasons, including injuries at the workplace. Commercial umbrella insurance can help pay for your defense fees if your liability coverage is not enough.

Dog owners

If your dog bites other people, you can be sued for the injuries. Fortunately, umbrella insurance can pay for the legal fees if your home insurance liability coverage is not enough to pay for everything.

There are so many reasons you may want to add an extra layer of liability protection to what you already have. If you need any help, feel free to contact 925 Partners, and our team will be happy to help.

Umbrella insurance is additional coverage that protects already existing coverages and limits of other policies. It is a specific type of insurance that may be difficult to understand. One of the main reasons is that there are many misconceptions and myths about this type of insurance. In order to help you get more educated about it, 925 Partners, serving Jacksonville, FL, decided to debunk some of those myths: 

Umbrella Insurance Is Extremely Expensive

In fact, the cost of umbrella insurance depends on the risk. When it comes to insurance, the higher the risk, the higher the price. Therefore, if you have expensive assets to insure, for example, or there are teenage drivers in the family, you will have to pay more. 

Only Wealthy People Need Umbrella Insurance

It is wrong because umbrella insurance provides protection to everyone, including homeowners, car owners, and renters. Umbrella insurance is a guarantee that you will be covered in case of different injuries, and this can happen to anyone regardless of their financial status. The difference is that wealthy people can afford out of pocket expenses if they do not carry appropriate insurance. 

Umbrella Insurance Can Replace Auto, Home, or Boat Liability Coverage

It is a myth because umbrella insurance works as additional coverage for those who already have liability coverage from auto, home, or boat insurance policy. 

By debunking these myths about umbrella insurance, we hope you will be able to see more benefits of it. If you still have questions about this type of insurance and need some help, 925 Partners, serving clients from Jacksonville, FL and other surrounding areas, are ready to assist you. Do not hesitate to visit our office or give us a call for more information. 

If you have considerable assets, you may be a candidate for umbrella insurance. Umbrella insurance gives you extra liability protection above the limits of your home, auto or renter’s liability coverage. Liability coverage is the part of your insurance that protects you against injuries or property damage to other people in accidents you cause. If you cause an accident where injuries or damage exceeds that of your primary liability coverage, umbrella insurance will pick up where your other policies leave off. In this case, umbrella insurance from 925 Partners in Jacksonville, FL can protect your valuable assets from serious mishaps you may be held responsible for.  

Here are three ways an umbrella policy can benefit you:

• Bodily Injury – If you’re found at fault for a home or auto accident that causes severe injuries to someone, you could be held responsible for paying his or her medical costs. The high cost of hospital and doctor bills could easily deplete the limits of your home or auto liability coverage. If so, umbrella insurance will kick in to pay for remaining medical costs, saving you from financial loss. 
• Property Damage – In like manner, umbrella insurance can be used to pay for damage to others’ property in accidents you cause. Umbrella coverage begins once the limits of your primary liability coverage have been exhausted. This saves you from dipping into savings, retirement, or investment funds to cover these costs.
• Actions that Can Lead to Lawsuit – If you’re found guilty of slander, libel, or other acts that cause people extreme mental anguish, you could be sued for damages. Umbrella liability insurance can help cover your legal costs and settlement, up to the limits of your umbrella policy.

To learn more about umbrella insurance and the benefits it has to offer, call us to visit us at 925 Partners in Jacksonville, FL.