When it comes to protecting your assets and financial future, purchasing umbrella coverage in Florida can be a smart decision. Umbrella insurance, also known as personal liability insurance, provides an extra layer of protection for your personal assets and can be especially important for Florida residents due to a potential lawsuit.
One of the main reasons to consider umbrella coverage is that it can provide extra protection for your personal assets in case of a lawsuit. In the event that you are sued and the judgement exceeds your standard homeowners or car insurance policy’s liability limits, umbrella coverage can provide additional coverage to help pay for the judgement. This can be especially important if you have significant assets, such as a home, investments, or retirement savings, that you want to protect.
Umbrella insurance also can provide coverage for certain incidents that may not be covered by your standard homeowners or car insurance policy. For example, umbrella coverage may provide protection for injuries that occur on your property, such as a slip and fall accident, or it may provide coverage for libel or slander cases.
Finally, umbrella coverage can be relatively affordable. It’s usually sold in million dollar increments and the cost of adding an additional million dollar coverage is relatively low making it a wise investment for any Florida resident.
If you have a question about whether there could be umbrella insurance to cover your injuries from a Miami car accident or slip/trip and fall at someone else’s home, contact The Farber Law Firm for a free consultation.