Why Do You Need Umbrella Insurance in Massachusetts?

An umbrella insurance policy is an add-on to your auto or homeowners insurance. It can provide coverage in cases where your auto or home policies are not sufficient. Why do you need umbrella insurance in Massachusetts? Continue reading to learn more.

Insurance Policies Have Limits

Your auto and homeowners insurance policies have limits. For example, your MA auto insurance policy contains several different types of coverages. Most reference a limit per person and per accident. With health care costs on the rise, how likely are you to cause an accident with damages exceeding those amounts? And what happens when your existing auto insurance coverage is not enough?

You Can Be Personally Liable

Here’s an example of what could happen. Imagine you’re involved in an accident that is determined to be your fault. One or more people sustain life threatening injuries. The cost of their medical care is over a million dollars given the extreme measures needed to treat them, but your auto insurance policy only covers up to $500,000. The injured parties could sue you personally for the difference. If the victims don’t survive, you may also be facing a wrongful death lawsuit.

The ugly truth is, you can be held personally liable for damages that exceed your insurance policy coverages. If you’re like most people, you can’t possibly afford to pay for that yourself. A judgement then could be made against your current assets and your future earnings!

Why Do You Need Umbrella Insurance in Massachusetts

This is exactly why you need umbrella insurance in Massachusetts. Umbrella policies are specifically designed to cover you when you exceed the limits of your auto or homeowners insurance policies. Additionally, they are fairly inexpensive to buy. You may be surprised to learn that you can easily afford a policy.

Contact your insurance company for more information umbrella insurance in Massachusetts and for a free quote. Don’t run the risk of not having enough coverage to protect your assets and future earnings.