Celina, TX business owners aren’t legally obligated to purchase umbrella insurance. However, there are several reasons why having such a policy is a good idea.

What is Umbrella Insurance?

Umbrella insurance offers extra compensation if you reach the limits of your business liability or commercial auto insurance policy. For instance, if your commercial auto insurance policy covers up to $50,000 in property damage, but one of your employees causes $100,000 in property damage, your umbrella insurance policy will cover the additional $50,000. If you’re sued for $3 million and your business liability policy covers up to $2 million, umbrella insurance will cover the extra expense for a judgment or settlement. Umbrella insurance can also cover additional medical bills if need be.  

Most businesses can benefit from umbrella coverage. Even so, some companies need it more than others. Purchasing umbrella insurance is wise if you work in a dangerous industry such as construction. Stores that get a lot of foot traffic can benefit from an umbrella insurance policy, as can retailers that sell expensive items such as jewelry or antiques. Companies that offer legal, financial, and health services can also benefit greatly from the security an umbrella policy offers.

Get Help from Rasor Insurance Today

Rasor Insurance offers multiple commercial insurance policies to Celina, TX, business owners. Our knowledgeable staff members can offer personalized advice to help you pick an umbrella insurance policy that meets your current and long-term needs. Contact us at your convenience to find out more about our policy options or to get an insurance policy quote for your business. 

Umbrella insurance is a type of coverage that offers additional protection beyond the limits of your standard insurance policies. Umbrella insurance provides additional liability coverage for accidental injury, property damage, and legal defense costs.

1. Eligibility Matters

To be eligible for umbrella insurance coverage, you typically need at least one underlying policy. This can include policies such as auto, home, or business insurance.

For example, at Rasor Insurance in Celina, TX, available policies include the following:

• Auto
• Home
• Commercial
• Farm & Ranch
• Life
• Flood
• Boat/Watercraft
• Motor Home
• Motorcycle
• Renters
• RV

2. Protects You from Large Financial Losses

If you’re unsure about purchasing umbrella insurance, it’s critical to consider the benefits. One of the primary benefits of umbrella insurance is that it can help protect you from significant financial losses.

For example, suppose you are legally responsible for injuring someone in a car accident. In that case, your umbrella insurance coverage can protect against any damages that exceed the limits of your standard auto policy.

3. Offers Comprehensive Coverage

Not only does umbrella insurance provide liability coverage, but it can also cover certain expenses that are not covered by your standard policies. This includes legal defense and damages from false arrest or malicious prosecution.

Whether you’re a business owner or an individual homeowner, it’s worth speaking with your insurance provider to learn more about umbrella coverage and whether it makes sense for you.

The Bottom Line

At Rasor Insurance in Celina, TX, we offer comprehensive coverage that helps protect individuals and businesses from significant financial losses. With our experienced team of insurance experts, you can feel confident knowing you’re protected against the unexpected.

Contact us today to learn more about our umbrella insurance options and other available policies.

With so many bills scrambling for your check, you may wonder why you should add umbrella insurance to your insurance list. After all, you already have a boat, home, and car insurance policy. But as you will learn from Rasor Insurance of Celina, TX, umbrella insurance is an asset that everyone earning a source of income should purchase. 

Here are three reasons why you need umbrella insurance.

Legal claims can be expensive

Your home and auto liability insurance coverages are good, but they can only stretch as far when faced with significant liability claims. For instance, an average dog bite legal settlement costs an average of about $45,000. Suppose you have home liability insurance of $10,000. When faced with a dog bite claim, you will be short of $35,000. Without umbrella insurance, your assets and future income will be in limbo. 

Unfortunately, everyone can be sued anytime. Whether super-rich or trying to make a living, umbrella insurance protects you from legal claims that can cost you thousands, if not millions of dollars.

To protect your assets

How long has it taken to accumulate your assets? Now, assume someone claiming your investments because of some frivolous lawsuits? It can be painful watching your assets being liquidated to pay settlement claims. Luckily, this isn’t the case when you have umbrella insurance. This affordable coverage ensures that you aren’t financially devastated even after lawsuits come raining.

For peace of mind

In our society today, you can be sued for virtually anything. And because of the litigious society we live in, you don’t have to live on the edge wondering who might come for your assets. Instead, let umbrella insurance take care of all your worries. 

Umbrella insurance in Celina, TX

Lawsuits are expensive and can potentially lead to lost assets. Thankfully, if you buy umbrella insurance from Rasor Insurance, it can protect your assets from all manner of lawsuits. 

Having umbrella insurance is a way to provide additional protection for your home, auto, business, and more. There’s a myth that only people with significant assets need this kind of insurance, but that’s not actually accurate. Anyone can benefit from an additional level of insurance coverage because they have more protection that way. That stronger protection can also lead to peace of mind, and that’s a vital part of life. If you’re in the Celina, TX area, Rasor Insurance can help you determine if an umbrella policy would be a good choice for your needs and situation.

There’s no reason to settle for a life where you’re always concerned about protecting your assets when you can get adequate coverage to ease that fear. By working with a knowledgeable agent on any questions you have, you’ll get the information you need to make a good decision about the types of insurance policies you have. Whether you need a different policy, an additional one, or something else, you can find what works for you and consider how the right insurance level will keep you protected for the future.

Reach out to us at Rasor Insurance today, and let us help you with an umbrella insurance policy you can rely on. All of our Celina, TX customers can enjoy more peace of mind when they have what they need. Asking your agent about your specific situation and how this kind of insurance can protect you is a good first step toward adding to the quality insurance coverage you already have. It’s also a good idea to ask your agent about your policy if it needs reviewing. That way, you can make any necessary changes so you’ll be better prepared for anything that may come up at a later date.

Have you ever heard of umbrella insurance? If you know what it is, you may be one of the many people who don’t think it is a necessary expense. If you have never heard of it, now is the time to learn what it is and why it is such a good investment. 

If you need help to get the right umbrella insurance coverage in Celina, TX, you can contact our professional team at Rasor Insurance to ensure you get the coverage and protection you need. 

Umbrella Insurance will Provide Additional Coverage 

When you purchase umbrella insurance, it is going to fill in the “gaps” that your other insurance may leave. This means that if a claim arises and your primary insurance policy doesn’t cover all the related expenses, umbrella insurance will kick in and ensure you aren’t having to pay large amounts of money out of your own pocket because of damage, an injury, or another type of liability. 

Protection Against Liability 

When you purchase umbrella insurance, you will be protected from liability. For example, if someone is injured on your property, your homeowner’s insurance will cover a set amount of that person’s injury-related costs. What happens though, if it isn’t enough? In this situation, if you don’t have umbrella insurance, you have to pay out-of-pocket. However, with this coverage, you have more money to provide the compensation the injured party needs to fully recover. 

The Sense of Security

The peace of mind that umbrella insurance provides is invaluable. With this coverage, you can feel confident that you are covered in the event of an accident or another issue that may arise where a claim needs to be made. 

If you need to purchase umbrella insurance in Celina, TX, contact our team at Rasor Insurance for help and information.