Umbrella Insurance in California
Umbrella insurance in Oakland, CA is extra liability coverage that protects your assets from any big lawsuits. It goes above and beyond what your standard auto and home insurance give you.
What Is Covered under Umbrella Insurance in California?
There are a few areas where umbrella insurance comes in handy. Check with your agent at Rate Crushers Insurance Brokers to see what your specific policy will cover.
A Lot of Property Damage: Standard auto insurance limits can easily be exhausted if you are found at fault for a car accident where there is damage to another vehicle or property.
Serious Bodily Injury: Home and auto limits may not be enough if someone is seriously injured at your home or in an at-fault car accident. Medical bills add up quickly.
Landlord Liability: If you have tenants then your tenants might file an expensive lawsuit over injuries sustained at the property.
Slander and Libel: There can be expensive lawsuits from something you write or say about another person. Standard home insurance liability coverage doesn’t usually include these types of lawsuits and you are only protected under umbrella coverage.
Malicious Prosecution: It’s possible that you may file a lawsuit against someone and get countersued maliciously or wrongfully.
Should You Have Umbrella Insurance in California?
Umbrella insurance isn’t required in Oakland, CA, or the rest of the state so you may be wondering if it is worth it to have. There are two questions you should answer about your risk and how much you have to lose. You can use an insurance coverage calculator to see if you need umbrella insurance or speak with an agent. When deciding on how much umbrella insurance to have, consider your net worth and how much is at stake should you be sued. Everyone can be sued in today’s society, and one lawsuit is enough to wipe out years of savings and even hurt your future wages.
Contact Rate Crushers Insurance Brokers to get a quote on umbrella insurance.