You never know when a rainy day is going to spoil things. Having an umbrella can save the day. Nobody wants to get a soaking. This analogy fits pretty well with what umbrella insurance does for your assets. If you need to talk to an insurance agent who can give you the information you are looking for about umbrella insurance Tackett Insurance Inc. in Memphis, TN has more than 100 years of experience. We believe in taking the mystery out of insurance and insurance terms. We are happy to provide as much or as little guidance as you need or want.
Umbrella insurance is liability coverage called excess liability. It is not a policy that stands alone, it is a policy that is additional coverage for a policy with liability you already have. Some policies that have liability are home insurance, auto insurance, condo insurance, and even renters’ insurance. What happens is when you need to use your liability insurance the primary policy kicks in first and when the expenses rise above the limit of your policy, the umbrella policy will begin to cover. Umbrella policies usually start at around a million dollars and go up from there.
The main reason just about anyone should have umbrella insurance is that in America about 10% of people get sued every year, and you have a better than 30% chance of being sued at least once in your lifetime. Legal fees have skyrocketed and judgments are getting bugger all the time. If you have an accident where you are at fault or someone gets injured while visiting your home or rental, you could find your assets in danger and even your future wages at risk. Umbrella insurance is affordable protection.
In Memphis, TN, you can count on Tackett Insurance Inc. for all your insurance needs.