Insurance Coverage Types

There are many, many types of insurance, but most people only need a few. Auto and homeowners’ insurance are common for the population, but there can be problems with these. They don’t tend to offer much liability coverage for the insured. That’s where umbrella insurance comes in to fill the gap. If you are interested in an umbrella insurance policy, contact us at Wise Insurance Agency in Ft. Wayne, IN to talk to an agent about this coverage.

Auto and Home Liability

An umbrella policy is generally not a stand-alone policy. It is taken out after your home, and auto insurance policies are in place. Because it can be so expensive to raise your liability coverage with those policies, many people go with the bare minimum liability coverage. It may mean lower rates, but it often means that a single accident or calamity can bankrupt a person when they are found at fault and must pay medical bills and other expenses. 

Umbrella Insurance

Because of the low liability amounts on those policies, many people choose to up their insurance coverage with an umbrella policy. This adds another layer to the liability insurance of both the home and auto policies. Once the home or auto insurance has paid out its maximum amount, the umbrella policy pays out up to its maximum coverage. This gives you many times more liability coverage, and it can protect your financial future should there be a serious occurrence that you are liable for. 

Get Your Umbrella Policy

If you’re interested in getting an umbrella policy to boost your liability coverage, call us at Wise Insurance Agency in Ft. Wayne, IN for an appointment to discuss it with an agent.