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When Does Umbrella Insurance Kick In?

Umbrella insurance is not a requirement for the residents of Bellevue, WA, but many people choose to purchase this insurance for its many benefits. Umbrella coverage works alongside your various policies and becomes effective when your other protection is exhausted. Your VIP Insured agent can do more to explain the particulars of your insurance policy. 

Umbrella Insurance: Why You Might Need It?

In the event that you file a claim on a particular type of insurance, you will have certain limits on your standard agreement. For homeowners, automobiles, and various other indemnifications, these are usually designed to take care of mishaps that occur with more regularity. For this reason, their caps can be exceeded when something out of the ordinary happens. 

Umbrella insurance is a good investment in the parts of your life where an incident could potentially leave you with large out-of-pocket expenses after regular insurance is insufficient to cover costs. This could be if you have a collection of valuables that surpass normal homeowners’ allotments or if you have a particularly rare vehicle. 

Other times that umbrella insurance may kick in is when you face a lawsuit for the remainder of medical bills or property damage left uncovered by your automobile insurance. Though it’s always necessary that you meet your deductibles on your primary insurance before they pick up costs, umbrella insurance usually does not have such provisions. 

When a driver who is uninsured or underinsured causes a collision with major financial ramifications, umbrella protection can help alleviate the impact. The Insurance Research Council estimates that as many as 1 in 8 drivers is operating a motor vehicle without insurance. 

We Are Available to Help

VIP Insured faithfully serves those who live in the greater Bellevue, WA community, and we invite you to stop by the office, visit us online, or call. We look forward to meeting your indemnification needs. 

What Does Umbrella Insurance Cover?

For a lot of people in Bellevue, WA, having the right coverage makes all the difference in the world. Many people want to extend their protection, but they’d rather not buy multiple new insurance policies. If this thought process sounds familiar to you, consider umbrella insurance. Umbrella insurance extends your existing coverage. At VIP Insured, we get a lot of questions about this type of coverage. If you’re curious about umbrella insurance, here’s what you need to know. 

What Is Umbrella Insurance? 

Umbrella insurance is a type of liability insurance that covers many scenarios. Sometimes, primary insurance policies — like homeowner’s insurance or auto insurance — don’t provide enough coverage. These instances are rare, but when they do happen, umbrella insurance adds an extra layer of protection. 

What Does Umbrella Insurance Cover?

An umbrella policy covers the gaps between other insurance policies. For instance, if your auto insurance only covers a certain amount of damage, umbrella insurance can cover additional costs. An umbrella policy also protects you from some things that may be excluded from your other policies, especially when it comes to lawsuits. 

This type of insurance provides more comprehensive coverage than just one type of policy can provide. It’s also a good option for people who have complicated individual needs or a lot of assets to protect. 

Questions About Umbrella Insurance? 

Should you get umbrella insurance? How do you know if you have the right coverage? The world of insurance can be complex, but you don’t have to figure it out on your own. If you have questions about umbrella insurance in Bellevue, WA, talk to us here at VIP Insured. We’d be happy to answer your questions and help you make sure you have the coverage you need. 

4 Key Benefits Of Umbrella Insurance

VIP Insured serves the Bellevue, WA community. We help our clients find policies to help protect their assets and navigate risks. We are an independent agency. We are proud to work with several carriers throughout the Pacific Northwest. We believe that we can help you find a custom policy designed to protect your assets.

4 Key Benefits Of Umbrella Insurance

Sometimes you just need extra coverage. There are some situations when things happen that you are not prepared for. If you don’t have a safety net in place, everything that you’ve worked for could be in jeopardy. Umbrella insurance protects you in these situations. If you are involved in a serious liability situation regarding your home or auto insurance, umbrella insurance adds another layer of protection to prevent you from possibly losing everything due to impending legal action. Here are some ways that umbrella insurance benefits you.

You Have An Inexperienced Driver

Perhaps you are a parent and your teen has just received their permit. The first few years of driving can be bumpy for many adults. If your teen accidentally injures someone while driving or causes substantial property damage, you can rely on umbrella coverage.

You Have High Risk Accessories

Perhaps you have a trampoline or swimming pool at your Bellevue WA residence. While these are fun items to have, especially if you are throwing a party, they are also very dangerous. Someone can suffer a serious injury. These are common situations where umbrella insurance can protect you against possible legal action.

You Give Advice

If you give advice, you’re at risk of possible allegations regarding slander and defamation of character. Umbrella insurance covers you.

You Have Pets

If your pet is having a bad day and attacks someone, you’re at risk. Depending on the severity of the injury, umbrella insurance can prevent you from losing your assets.

VIP Insured Can Help You Find The Right Policy

Visit our website to learn more information about umbrella insurance.

Does umbrella insurance cover flooding?

Umbrella insurance is an excellent backup policy for individuals looking for additional financial support in Bellevue, WA. A good umbrella insurance plan provides coverage when your standard indemnity policy falls short. Does umbrella insurance cover flooding and other natural disasters, though? An agent at VIP Insured can answer that question. 

What does umbrella insurance cover?

A good umbrella insurance policy serves as a safety net for your family. This type of indemnity coverage generally pays for the amount of damage your standard insurance plan does not cover because of exhausted policy limits or restrictions. 

An example of umbrella insurance at work would be an at-fault car accident in which the property damage exceeds your policy’s limits in Bellevue, WA. An umbrella policy would pay for the outstanding balance, so you do not have to use personal finances to cover the incident. 

Does umbrella insurance cover flooding?

Umbrella insurance does not typically cover natural disasters such as flooding and earthquakes. Homeowners must solely rely on their home insurance plans for financial support when such incidents occur. 

There are, however, instances where an umbrella insurance plan would pay for water damage. A broken pipe in an apartment or condominium unit may qualify as a covered incident. Flooding may also be covered under an umbrella policy if your washing machine malfunctioned to cause the disaster. In both instances of water damage, an individual would need to have either renters or home insurance as standard indemnity plans before umbrella coverage could be used. 

It is best to contact VIP Insured to learn more about umbrella insurance plans and determine if a policy is right for your family. Call today to get started with a quote for coverage

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