Category: Umbrella Insurance

When Southgate, CA residents consult with ANA Insurance Brokerage Inc. on their potential umbrella insurance coverage policies, we encounter a number of misconceptions that we have to clear up. To learn more about how these policies can extend beyond basic coverage, take a moment to check out the following guide.

Boating Accidents

If a boating accident occurs and severe damages are involved, a basic insurance policy will typically not provide the necessary coverage. Without an umbrella insurance policy, you may end up on the hook for the medical bills of several other people. Umbrella insurance policies ensure that these expenses do not become your responsibility.

Dog Attacks

A prototypical homeowners insurance will not always offer protection against an untimely pet attack. This is a common mistake that California homeowners often make. Liability limits do not always account for these types of occurrences. Medical bills and costs related to a victim’s pain and suffering will not be factored into most of these policies.

Your Child Is Sued

Let’s say your child has been spending a lot of time online and gets into an argument with someone who makes a libelous remark. This is not something that the average insurance policy will cover, and it will necessitate the presence of an umbrella insurance policy. Legal costs can skyrocket in these instances, and a judgment against your child can also be quite costly.

At ANA Insurance Brokerage Inc., we understand the importance of umbrella insurance policies. To learn more about how these policies can assist a Southgate, CA resident, be sure to stop by or give us a call as soon as possible. Our team of experts is more than happy to help!

Umbrella insurance is an important type of coverage to carry for consumers in Southgate, CA who want total financial protection. At ANA Insurance Brokerage Inc., we offer umbrella insurance policies.

Consumers need to be accurately informed about what umbrella insurance is. There is a lot of misinformation about umbrella insurance that consumers might come across. 

The following are three pieces of misinformation out there about umbrella insurance:

Consumers need to have a minimum net worth to qualify for coverage.

Insurance providers generally do not have net worth requirements. The only requirements you need to meet to qualify for coverage are having adequate liability coverage on your primary insurance policies like your home and auto policies. 

You have to own a home to qualify for umbrella insurance.

While owning a home can allow you to enjoy enhanced home insurance coverage with umbrella insurance, you don’t have to own a home to qualify.

Consumers who aren’t homeowners can use umbrella insurance to add to the coverage they get through their auto insurance and renter’s insurance policies. 

An umbrella insurance policy will cover every liability risk you can possibly face.

While umbrella insurance does offer a wide scope of coverage, there are some scenarios in which umbrella insurance won’t cover you.

For example, your umbrella insurance won’t cover you if you face liability expenses as a result of an act that you committed intentionally. Umbrella insurance also won’t cover you for liabilities related to a business. 

Consult With Us

Elevate your coverage to new heights! At ANA Insurance Brokerage Inc., our umbrella insurance provides extra protection when you need it most. Consumers in Southgate, CA can call us today for a policy quote!

Umbrella insurance from ANA Insurance Brokerage Inc. is a type of supplemental liability insurance policy that provides added protection for individuals in the event of an unforeseen legal claim. It works in tandem with other existing policies, such as car insurance or homeowners’ insurance, and takes effect when those limits have been exceeded.

For example, if you were found liable for damages from an automobile accident in the Southgate, CA area that exceeded your existing auto coverage, umbrella insurance would kick in to provide additional coverage up to the umbrella policy limit.

Why Umbrella Insurance?

Umbrella insurance can be an invaluable asset for those who may potentially face large financial losses due to unforeseen events. For example, if someone were to sue you after being injured by a dog on your property or after being involved in an automobile accident caused by your negligence, umbrella insurance could help protect you against financial destruction.

Umbrella policies are usually very affordable and offer higher limits than standard liability policies, making them a great option for those who are concerned about their potential exposure to large legal costs or damages awards. 

Overall, while umbrella insurance may seem like a luxury item at first glance, it can actually be very beneficial in helping individuals and small businesses protect themselves from potential financial losses due to unforeseen circumstances beyond their control.

By providing extra liability coverage and covering certain types of damages not covered under traditional policies, having appropriate umbrella coverage can be a powerful form of protection against unexpected legal fees or awards stemming from accidents or other mishaps.

Give Us A Call

If you have any questions about your coverage, please give us at ANA Insurance Brokerage Inc. a call today. We proudly serve the Southgate, CA area.

We at ANA Insurance Brokerage Inc. know that umbrella insurance can help protect you from incurring financially cataclysmic losses from liability. We are here to provide expert advice if you ever find yourself in the following situations. 

Who Needs Umbrella Insurance?

In Southgate, CA and the surrounding area, many people volunteer in their community. Every week, concerned citizens help clean up parks, coach kids’ sports teams, volunteer at soup kitchens, etc. Those individuals need umbrella insurance to protect their finances. Umbrella insurance provides a secondary policy that you add to a primary liability policy. Whether you accidentally libel someone in a newspaper or online, or you cause an accident that injures people, your liability insurance covers it.

Most policies don’t offer large coverage amounts. They weren’t originally designed for that and adding an umbrella policy provides the excess coverage that certain individuals need but most people don’t. Typically, a million-dollar policy costs just a few dollars per month in premiums.

As you age, it becomes more important to carry this coverage. That’s because, without it, an accident you cause could wipe out your savings.

Let’s say you plan to retire at age 70. You have a nice nest egg built up of about $400,000. At age 60, you throw a party to celebrate your child’s graduation from medical school. At this party, a fire in the BBQ pit injures three guests. The medical bills cost upwards of $250,000 and your home policy covers just $50,000 of it. The other $200,000 comes out of your retirement. Now, you have ten years to make up that $200K before retiring.

An umbrella policy solves the problem. It could provide $1 million of coverage for a minuscule cost.

Call Us Today

Contact ANA Insurance Brokerage Inc. serving Southgate CA, for more information on umbrella insurance. Let us help you add to your protection from liability.