Umbrella Insurance in Illinois
The Illinois Department of Revenue defines an umbrella liability insurance as coverage that "floats above" what any other policy would provide you. Cusack Insurance Agency can explain the difference between this product and standalone policies.
What is umbrella insurance?
You might recognize it as what you would acquire along with any commercial insurance you would purchase. However, this coverage could supplement any liability policy you might have. For instance, it could offer financial protection beyond your auto, homeowners, or recreational coverage limits.
A primary purpose of umbrella insurance involves covering damage and injury expenses to other people, pets, or property. However, this mainly pertains to when they come near your home, business, automobile, or other items you own. This includes unexpected circumstances caused by other people, not you.
Even if certain instances that come up aren't your fault, it can prevent you from bankruptcy if someone visiting your property sues you. It may also extend to any existing fire, accident, theft, renters, or disaster insurance you have as well. This will probably raise questions best answered by a licensed Oak Lawn, IL representative.
Perhaps you'd ask, "what's the difference between umbrella insurance and another type of insurance?" If so, think of it as paying the difference between what you pay now and what you want. The primary difference is that you usually cannot purchase it by itself.
You also might wonder, "can I just get an umbrella policy to cover all my home and business accident expenses?" Unfortunately, the answer to this question is "no," but it doesn't cost much for this supplemental insurance.
"How do I know if I need umbrella insurance?" That's probably one of the most commonly asked questions of all. For more information about umbrella insurance and other coverage options, don't hesitate to contact Cusack Insurance Agency serving Oak Lawn, IL.