Does Umbrella Insurance Cover Legal Costs?

Whether you need business or personal insurance coverage, adding an umbrella policy can enhance your liability protection and give you financial support when mitigating insurance claims. The financial assistance you receive does depend on your policy and the terms you agree to. In some instances, your umbrella policy can help cover legal or settlement costs, when the monetary thresholds of your other policies are exceeded. 

Umbrella coverage may be the only protection you have in certain situations, such as cases involving libel or slander. In these instances, the legal fees can skyrocket quickly, and an umbrella policy may be your only line of defense. Businesses and individuals can benefit from umbrella coverage. When determining monetary thresholds, it’s important to consult with an experienced insurance professional. Meeting with an associate at Easley Hedrick Insurance & Financial in Richmond, VA can help you determine your risk profile and coverage needs. 

Living in a litigious society means that there is a significant risk of litigation if you are liable for causing damage or harm to others. Having insurance that can cover legal costs is a prudent decision. Using umbrella insurance in a coordinated effort with other types of policies is also important. In doing this, you can create the best possible screen of defense. The insurance professional you choose can ultimately determine how well-rounded your protection is. So, choose your insurance professional wisely. 

For additional information on umbrella insurance and the costs, it covers, please contact Easley Hedrick Insurance in Richmond, VA. An experienced professional will be available to answer your questions and set up a consultation. Let umbrella insurance enhance your peace-of-mind starting today.