When is it advantageous to have umbrella insurance?

Liability risk is something that all people in the Erie, CO area should take seriously. Proper liability coverage can offset a wide range of risks and provide you with peace of mind. You can ensure that you are offsetting your liability risk by getting an umbrella insurance plan. There are several situations in which having this type of coverage will be advantageous for those that are in the state of Colorado. 

When Involved in Major Accident

When you are glad that you have an umbrella insurance plan, you are involved in a major accident. Most people will have liability protection through their auto or home insurance plans. While this coverage can protect against the vast majority of liability claims, there is a chance that damages could exceed your limits. An umbrella insurance plan is helpful in these situations as it will provide coverage for claims over your other policies. 

When Claims for Uncovered Situations

There is also a chance that you could be named in a liability claim for situations that are not typically covered by home or auto insurance plans. If this is the case for you, having an umbrella insurance plan will be helpful as it will ensure you have some liability insurance coverage to mitigate this risk.

There are many advantages of having an umbrella insurance plan in the Erie, CO area. If you would like to get this type of insurance coverage, it would be helpful to call Advantage Service Insurance. The team with Advantage Service Insurance knows how valuable this insurance coverage can be. They can offer the support needed better to understand the benefits of umbrella coverage and guidelines to follow when choosing a new policy.