Most homeowners have peace of mind that their house and belongings are covered under their homeowner’s insurance policy in case of a disaster or if a guest to their home were to have an accident and suffer injuries. There is an additional policy, referred to as umbrella insurance, that homeowners can add to their existing policy that will offer even more protection.

An umbrella insurance policy provides liability protection of your property and even beyond it. For example, if you’re in your yard or the parking lot at the local Walmart store, you may still be protected from a potential lawsuit under your umbrella insurance policy. In the case that someone files a lawsuit against you that goes beyond the amount of your regular coverage, your umbrella insurance coverage will kick in. This means if your friend slips and falls on your property and breaks their leg and has a lengthy hospital stay that costs them $300,000, but your policy on your homeowner’s insurance only allows for $100,000, the umbrella insurance will pick up the balance, so you don’t have to.

In the current climate of today’s lawsuit-happy people, it’s a great idea to have an umbrella policy to give you the extra peace of mind you deserve. Umbrella policies will protect your existing assets and even future earnings if you lose a court case. Some things the umbrella policy can cover include if you are the recipient of a lawsuit for accidents on your rental properties, a false arrest, malicious prosecution, and even slander or libel lawsuits. It will also cover shock or mental anguish due to one of these types of circumstances.

To obtain the best umbrella insurance policy for your home or business, you will need to enlist the help and guidance of a trusted and experienced insurance agent. In Texas, contact the insurance agents at Modern Risk Management, located in Houston, TX.