If you’ve recently acquired umbrella insurance or are planning to add it to your policy for an extra layer of protection, there are a few things you need to know. While it will cover situations where you are found liable, there are a few exceptions where the policy will be null and void and not be an option for damage coverage.

Personal Property and Medical Expenses

If you cause an accident or event that damages your personal property, umbrella insurance will not cover that cost. This includes any damage done to your home, structures on the property, your car, or any other personal items that belong to you and were damaged by you. The same applies to any medical expenses that arise as a result of your own negligence.

Criminal Activity

Accidents where you cause damage is one thing, but if you deliberately caused damage to someone or their property, and it has been proven, your umbrella insurance policy will not cover your expenses.

Punitive Damages

Suppose you or someone living at your home purposely attacks another person, even with emotional abuse, causing them damage or requiring them to seek medical attention. In that case, your umbrella insurance policy will not cover the costs. These are usually related to cases in civil court, with evidence proving the damage was caused on purpose. This can also include damages related to your tenants if you own rental properties and are behaving maliciously to evict them.

If you have more questions about umbrella insurance or want a personal quote for your home or business, contact our agents at EasTex Insurance. We serve clients in the Tyler, TX area, and surrounding communities.

Umbrella insurance is a specialized type of insurance that grants extended coverage on top of other existing policies. This is an excellent option for individuals with home and auto insurance policies, offering them an extra layer of protection. Their popularity increases as individuals discover how much additional coverage they can acquire without incurring extreme costs. Umbrella insurance is budget-friendly while providing a high level of fortification against unforeseen accidents and the exorbitant costs associated with them. To guarantee you’re protected, reach out to us at EasTex Insurance in Tyler, TX.

Increased Liability Coverage

Securing an umbrella insurance policy delivers increased liability coverage to your auto and home policies. This addition comes at a lower price compared to directly augmenting your liability coverage through your standalone policies. Umbrella insurance offers a substantial amount, covering even severe accidents. Should an accident occur in your vehicle or home, you’d require this coverage to settle medical costs and other related bills.

Enhance Your Security With Umbrella Insurance

Having additional coverage through an umbrella insurance policy ensures you’re well-protected in a serious accident. The liability coverage provided by home and auto policies usually falls short, leading to potential financial risks if adequate additions are not made. It’s crucial to feel secure knowing you’re adequately protected and that a severe accident won’t lead to financial ruin.

Secure Umbrella Insurance

To learn more about this increasingly popular coverage type, contact us at EasTex Insurance in Tyler, TX. We can assist you in kick-starting a policy that provides an extra layer of protection over your existing policies.

Insurance policies can often raise questions, and one such policy is umbrella insurance. EasTex Insurance is committed to unraveling the mystery behind this key coverage for residents of the greater Tyler, TX, area.

What is Umbrella Insurance?

Umbrella insurance provides an additional layer of protection beyond the limits of your basic insurance policies. It offers additional liability coverage to secure you from significant financial losses if you’re involved in a lawsuit or claim.

The Coverage Extent of Umbrella Insurance

Umbrella insurance kicks in when the liability coverage of your standard policies is maxed out. For instance, if you’re deemed accountable for an accident and the damages exceed your auto insurance’s liability limits, your umbrella insurance steps in to cover the remaining costs up to its policy limits.

The Versatility of Coverage

Umbrella insurance does not limit itself to car accidents; it extends to various circumstances, including personal injury claims, property damage liabilities, and even lawsuits arising from incidents on your property.

Who Should Consider Umbrella Insurance?

While all individuals can benefit from the added shield that umbrella insurance offers, it’s particularly advantageous for people with considerable assets to guard or those with a higher risk of lawsuits, such as landlords, business owners, or high net-worth individuals.

Peace of Mind

One of the most significant advantages of umbrella insurance is the peace of mind it provides. Having that extra layer of financial protection in case of unforeseen incidents can alleviate stress and worry.

Umbrella insurance can be a valuable safeguard for residents of the greater Tyler, TX area, extending liability coverage beyond basic policies. If you’re exploring how umbrella insurance can protect your assets, contact EasTex Insurance today.

EasTex Insurance is your go-to agency in Tyler, TX, committed to safeguarding your assets and ensuring peace of mind. Today, we’re shining a light on the often-overlooked umbrella insurance and offering tips to help you make an intelligent purchase decision. Living in the vibrant community of Tyler, unforeseen events can disrupt the tranquility of our lives. An umbrella policy, extending beyond your existing coverage, provides an extra layer of protection for your home, vehicles, and other valuable possessions. Here’s more information about choosing the right policy.

Here are vital tips for purchasing the right umbrella insurance policy:

1. Asset Evaluation: Take stock of your home, vehicles, and valuables to determine your needed coverage amount. EasTex Insurance in Tyler, TX, can assist in assessing the value of what matters most to you and what you are trying to protect the most.

2. Liability Risks: Consider potential risks such as car accidents or property incidents. As a general rule of thumb, the more liability risks you have, the more coverage you may need. An umbrella policy from EasTex Insurance provides additional liability coverage, protecting your finances in case of a lawsuit.

3. Coverage Limits: Our team in Tyler, TX, will guide you through coverage limits, tailoring a policy to meet your unique needs. This helps to ensure you’re not exposed to unnecessary risks and are as protected as possible.

Now is the time to act and fortify your insurance portfolio. EasTex Insurance, proudly serving the greater Tyler, TX area, is here to guide you through the process. Call us today to learn more about purchasing the right umbrella insurance policy for your needs. Insure smarter with EasTex Insurance, where protection meets peace of mind.

Insurance is a necessary safety net for most people in Tyler, TX. However, EasTex Insurance has found that many people misunderstand the limitations of their coverage and are unaware of the gaps in their policies. This is where umbrella insurance comes in.

Primary policies, such as auto or homeowner’s insurance, cover the risks associated with the insured asset, such as car accidents or home damage. These policies have a limit or “maximum payout,” the maximum amount the policy will pay for a claim. The policyholder is responsible for the remaining costs if the damages exceed the policy’s limit. 

On the other hand, Umbrella insurance is designed to provide additional liability coverage on top of primary policies. It provides more comprehensive protection, covering most situations not covered by prior policies. Umbrella insurance also covers more significant claims and provides higher limits than primary policies. In short, umbrella insurance is an additional layer of coverage that can save you from financial disaster in case of a lawsuit or other catastrophic loss.

Another essential aspect of umbrella insurance is that it can cover legal expenses, such as attorney fees, court costs, and settlements. These costs can add up quickly if litigation lasts months or years. With umbrella insurance, you can rest assured that you’ll have the resources to defend yourself in court and fight against a potentially devastating loss.

When deciding whether to purchase umbrella insurance, it’s essential to consider your personal risk factors, such as your assets, occupation, and hobbies. For example, if you own rental property or have a high net worth, you may be at higher risk for lawsuits than the average person. EasTex Insurance proudly serves the Tyler, TX area. Contact us today to get the financial protection you need.

Liability risk is something that all people in the Tyler, TX area should take seriously and protect against as well as they can. One way anyone can offset and protect this risk is by getting an umbrella insurance plan, which offers broad support for policyholders. There are various reasons that you should always have this type of coverage in place when you live here. 

Receive Support for Large Claims

Most people in this area of Texas will have some liability coverage through home and auto insurance plans. However, these policies have limits, and major claims that come with bad accidents may not be covered all the way. In these situations, umbrella coverage is quite helpful as it offers additional support for your existing policies. 

Protect Against Unforeseen Situations

Another critical reason to have an umbrella insurance plan is to ensure you can protect yourself against unforeseen situations and risks. While some liability risks can be mitigated with home, auto, or other forms of insurance, others are harder to predict. When you want to improve your total personal liability risk mitigation efforts, umbrella insurance is an excellent way to do it. This broad coverage can offer blanket coverage against many more potential risks. 

An umbrella insurance plan is important for anyone in the Tyler, TX area. If you are shopping for any insurance here, it would be helpful to call the team with EasTex Insurance. There are always a lot of important choices to make when you are looking for this coverage, and EasTex Insurance will help you evaluate your insurance options and build a plan that will meet your needs and reduce your liability risks. 

If you run a professional practice in Tyler, TX, you may already have a professional liability cover. While this covers you for most eventualities, the reality is that it may not always be enough. While professional liability coverage can adequately cover most claims, there can be moments in your practice when claims can exceed your professional liability. When this happens, you could plunge into a financial crisis as you may have to pay the difference out of pocket. This can lead to severe losses for your practice and, in some cases, even bankruptcy. 

If you are a practitioner such as a physician, software consultant, accountant, or stockbroker, you need not worry about excess professional liability. The good news is that commercial umbrella insurance will protect you from such an eventuality. 

How Commercial Umbrella Insurance Can Protect Your Business

Commercial umbrella insurance kicks in at the limit of your professional liability cover. It picks up the excess if a claim is more than your liability coverage. This protects your personal finances and also the financial health of your practice. However, you will need to find the right commercial umbrella insurance cover depending on the type of practice you run and your unique professional liability risks.

Get Top-notch Commercial Umbrella Insurance From EasTex Insurance Associates Inc.

Umbrella insurance coverage differs across various insurance companies. To find the right commercial umbrella insurance for your business, come to EasTex Insurance Associates Inc. We are an insurance agency that serves clients in Tyler, TX, and its surrounding area. Our friendly and professional insurance experts will match you with the right commercial insurance provider. This ensures that you effectively manage any professional liability risks. Additionally, it gives you complete peace of mind that your business is safe in case of any eventuality regarding professional liability. Get in touch with us today for more information about commercial umbrella insurance for your business.

Whether it’s your first time or your fifth time buying insurance in Tyler, TX, there will always be that one question whose answer you can’t find. The questions can triple, especially if you‘re looking to buy umbrella insurance for the first time. At EasTex Insurance, we recommend researching policy details and checking different insurance companies to determine which one is right for you. In this article, we will respond to some of the most commonly asked questions.

How much umbrella insurance do I need?

The amount of umbrella insurance to buy heavily depends on your needs. You can start by estimating the value of your assets, including your home, savings, cars, and investments. Check the limits of the existing liability coverage. If the value of your assets exceeds the current liability coverage limits, you should consider topping up with umbrella insurance.

Do renters need umbrella insurance?

Yes. People who live in rented spaces can also benefit from umbrella insurance. If you often have visitors in your Tyler, TX home, your renter’s insurance may not always be adequate to cover for injuries that your guests may sustain while at your house. Umbrella insurance can help pay the rest.

Does umbrella insurance cover my business?

Yes. If you are looking to add an extra layer of protection to your business, you can buy commercial umbrella insurance. Note that you need general liability, professional liability, commercial auto liability coverage, and other policies to act as the primary policies when buying umbrella insurance.

Can I be sued beyond the limits of my umbrella insurance?

Unfortunately, yes. That’s why it’s prudent to reach the maximum limit in your umbrella insurance policy.  If your umbrella policy has a limit of $1.5 million, a court can award damages in excess of that amount. Luckily, many insurance providers offer limits as high as $5 million.

For more information about umbrella insurance, contact EasTex Insurance today!