Umbrella insurance is one of the most misunderstood types of insurance coverage out there. At Perry Insurance Agency, we want to ensure that consumers in Vernal, UT understand what umbrella insurance is and how it works.

The following are three things about umbrella insurance that some consumers don’t understand. 

Umbrella insurance isn’t just for rich consumers.

Many people associate umbrella insurance coverage with the very wealthy. However, this doesn’t mean that a more modest-income consumer cannot benefit from umbrella insurance.

The vast majority of consumers can benefit from purchasing umbrella insurance even if they are not rich. 

Umbrella insurance can’t replace other types of coverage.

Some consumers don’t understand that umbrella insurance is not a standalone type of insurance coverage. This means that umbrella insurance cannot replace other types of insurance like home insurance and auto insurance.

Umbrella insurance complements a consumer’s other insurance policies. This means that umbrella insurance offers added coverage over the maximum coverage amounts of a consumer’s home or auto insurance policy. 

Umbrella insurance only covers liability expenses. 

Umbrella insurance does not cover any of a consumer’s physical possessions. You cannot file a claim for damage to your home on an umbrella insurance policy. 

Liability damages are the only types of damage that an umbrella insurance policy covers. This means that umbrella insurance protects a consumer against expenses encountered as the result of a lawsuit or as the result of accident damages determined to be the policyholder’s fault. 

If you need more information about umbrella insurance in Vernal, UT, we’re here to help you at Perry Insurance Agency. Contact us today, and we’ll quote you an umbrella insurance policy that will provide you with the financial protection you need.