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Miami, FL 33186

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Why You Might Need Personal Umbrella Insurance in Florida

If you are a Florida resident, you probably have concerns about being sued for anything. In this world, everybody has those concerns. This is what umbrella insurance is for.  

Umbrella insurance is a liability policy with a very high limit. You can have one for yourself, or for your business, but thousands of Florida residents purchase this peace of mind for personal purposes.

At Prestige Insurance Group, we want Miami, FL residents to have fewer liability concerns. Taking those concerns off of your mind is why you might need personal umbrella insurance in Florida.

What is a Personal Umbrella Insurance Policy?

A personal umbrella insurance policy is an insurance policy purchased by an individual for liability protection. In the event you get sued, or are defamed, or experience another personal legal grief, umbrella insurance can protect you. 

Umbrella insurance is a liability policy with a high limit. Limits for umbrella insurance usually start at $1,000,000, but you can purchase as much as you wish. 

Another thing umbrella insurance is used for is to cover some liabilities when your other coverages are capped out. If you are in a car accident or example, and your claim exceeds your auto insurance coverage limits, umbrella insurance can provide the remainder of the claim amount.

Legal Matters Commonly Covered by Umbrella Insurance

Umbrella insurance is often used in the event of lawsuits against you, or that you initiate. You might experience libel, slander, malicious prosecution, or false arrests.
We all think that it can’t happen to us, but then it does happen to someone. That’s what umbrella insurance is for. The trend today in America is to jump towards a lawsuit when something bad happens that can’t be resolved diplomatically. Umbrella insurance is there for you when you need it.

Get a Quote

When you are worried about potential liabilities in a litigious world, umbrella insurance is there. At Prestige Insurance Group, we want Miami, FL residents to feel protected against any potential liability. Call us today for a quote.

Three reasons why umbrella insurance is important for protecting yourself financially

It’s essential for consumers in Miami, FL to understand how umbrella insurance coverage protects their finances. At Prestige Insurance Group, umbrella insurance is one of several types of insurance we provide.

The following are three reasons why it’s vital to have umbrella insurance coverage to protect yourself financially.

Umbrella coverage enhances home and auto insurance policies.

Home and auto insurance is essential for protecting you against liability expenses. However, home and auto insurance policies have limits. You could find yourself having to pay out of pocket if you’re involved in an incident that costs more than your home or auto insurance policy maximums. 

Fortunately, umbrella coverage enhances the coverage offered by other policies you have. Umbrella insurance coverage kicks in if you go over your policy maximums for your home or auto insurance policies. 

Umbrella insurance covers the costs of legal representation in lawsuits.

Anyone can be sued. If you find yourself facing a lawsuit, the costs of legal representation can be extremely high.

Fortunately, umbrella insurance coverage protects you against the costs of legal representation for liability suits in a wide variety of cases. 

Umbrella insurance gives you peace of mind.

Without umbrella insurance coverage, you might be putting your assets at risk. A single accident could potentially wipe out your entire net worth without umbrella insurance coverage.

Umbrella insurance coverage can give you peace of mind. When you have umbrella insurance, you enjoy added financial security and won’t be as significantly affected financially if you do get sued down the road. 

You can find the right umbrella insurance policy by contacting us at the Prestige Insurance Group. Consumers in Miami, FL can take advantage of protecting their assets by investing in this important financial product. 

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