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Umbrella Insurance Policies Explained

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Not sure what umbrella insurance actually is? We can help with that!
  • Post category:Blogs

There are so many types of insurance that it can be hard to understand what they all do. It’s especially hard when their names don’t fully explain what’s going on. Perhaps no insurance policies need to be explained more than umbrella insurance. While its name is catchy and easy to remember, it doesn’t fully show why you may need it. So we’ll tell you why umbrella insurance is one of the most important types of insurance out there!

Liability Insurance Takes Care of Things to a Point

Liability insurance coverage is the backbone of pretty much every insurance package. It provides incredibly important protection for both you and those around you. Liability covers situations where you might be liable. For example, if you or one of your drivers causes an accident, liability insurance will pay for the repairs the other people involved need to make.

The problem with liability insurance is that it only covers so much. Every insurance policy has a limit, and if you exceed those limits, you need to pay for the rest out of pocket. In the trucking world, this can happen quite easily, as trucks can cause a ton of damage in an accident.

That’s Where Umbrella Insurance Policies Kick In

Umbrella insurance expands your coverage beyond the limit of your liability policy. With an umbrella policy, you will have coverage if you cause a really expensive accident or get sued. Umbrella policies are relatively cheap, as it is rare that they actually come into play. However, if you find yourself exceeding the limits of your liability policy, you’ll be glad you have it.

Here are some trucking situations where an umbrella policy would pay out:

  • If a truck you own crashes into a car with multiple people in it, you’ll be on the hook for all of their medical expenses. An umbrella policy will pay for this if the medical expenses exceed your liability policy’s limits.
  • If you crash your truck into a building, you’ll need to pay for extensive repairs to that building. Our umbrella insurance will make sure you don’t go into dangerous levels of debt for this.
  • If someone files a lawsuit against your business, legal fees can rack up quickly. An umbrella policy will pay for those costs if legal proceedings drag out.

San Diego Truck Insurance provides free quotes for umbrella policies. Get yours today on our site!

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