Category: Umbrella Insurance

Many people have home and auto insurance. These are rather common policies, with various coverage types included in each. However, many home and auto policies don’t carry much liability protection. To increase your liability coverage, you can get an umbrella insurance policy. Contact Heimgartner Insurance Inc. in Sioux City, IA, to obtain insurance.

What Is Umbrella Insurance?

Umbrella insurance is a complementary policy that works alongside your home and auto policies. It increases the liability protection on both these policies simultaneously. In the event of an accident at your home or involving your vehicle, you could be left with significant damages to pay. If you lack adequate liability coverage, you would personally have to cover any outstanding expenses after your insurance policy has paid its share. These excess costs could be extreme, and you may need to sell off assets to cover them after a severe accident. When an accident occurs, the home or auto insurance comes into play, paying until it reaches its limit. Afterward, your umbrella insurance steps in to cover the balance.

Save Money With Umbrella Insurance

Umbrella policies have very high maximum payouts, but they don’t cost much. It’s significantly less expensive to get an umbrella insurance policy than adding it directly to your home and auto policies. This saves you money while giving you more robust protection against the high cost of medical bills if an accident happens.

Get Umbrella Insurance in Iowa

Call Heimgartner Insurance Inc. in Sioux City, IA, to get your umbrella policy or to learn more about it.

Most tenants consider renter’s insurance as basic coverage that is a standard choice for wise renters of any age. At Heimgartner Insurance Inc., we tailor insurance to our Sioux City, IA customers’ needs, going beyond basic insurance to provide additional benefits. One of these options for renters is umbrella insurance, coverage that goes beyond basic liability and property coverage at a reasonable cost. It’s not just for those with significant assets, homeowners, and those who risk liability in their activities such as recreation. Still, when you go boating around expensive yachts, are renting while you look for another house with significant funds in the bank, or have other sources of financial exposure, umbrella coverage can be excellent protection.

Umbrella Coverage is Easy to Choose

As an add-on, umbrella insurance is easy to select and generally affordable, so renters can protect their assets and income in the case of liability and benefit from other risk protection as well. It’s increasingly an important option for those with a high income, high rent situation, who need protection even though they’re not traditional homeowners. If your recreational choices or other activities could expose you to higher risks, umbrella coverage can also provide a reasonable way to absorb surprisingly high liability in certain situations. Ask your Heimgartner Insurance Inc representative how this could apply to your lifestyle and provide benefits beyond your renter’s insurance.

Consult With Us

When buying insurance, you can benefit from specific coverage and multi-policy discounts by thinking about your whole financial and insurance picture. Let our experienced agents help you in Sioux City, IA answer your questions about insurance for your life today and planning for the future. We often have suggestions for our clients based on our experience, that get you better protected!

As a business owner, you have assets and other business-related things that you need to protect. Your current business insurance policy may meet most of your needs, but situations may require more than your primary insurance will cover. Even as a small online business owner, there are things you need to protect to keep your business running. Our Sioux City, IA team at Heimgartner Insurance Inc is committed to helping small business owners understand the benefits of umbrella insurance.

What is Umbrella Insurance?

Umbrella insurance is secondary insurance designed to kick in once the maximum limits of your primary insurance have been met. This insurance covers anything that exceeds the limits of your primary insurance.

However, there are instances when umbrella insurance can act as primary insurance if a situation, circumstance, or incident isn’t covered at all by your primary insurance. Of course, the guidelines of your umbrella insurance policy determine if your umbrella insurance can cover situations not covered by primary insurance. Every insurance company will have its own guidelines and eligibility requirements.  

I have a very small online business. Do I need umbrella insurance?

Maybe. As an online business owner, you need to discuss the risks and potential pitfalls with an insurance agent. You’ll be able to gauge whether or not umbrella insurance will be a necessity or beneficial.

As an online entrepreneur, you’ll still want protection from liability claims as well as protection for your brand and data. As a result, umbrella insurance may be a good investment for providing extra protection should any situations that compromise your brand or pose liability risks emerge.

Looking for Insurance in Sioux City, IA?

If you have questions about umbrella insurance, we’re here to answer them. Call us at Heimgartner Insurance Inc. 

Umbrella insurance is surrounded by myths and misunderstandings. What it is and why it is valuable is not universally understood. At Heimgartner Insurance Inc in Sioux City, IA, we try to make sure that our customers have the information they need to make educated decisions about the coverage they choose. 

To understand the benefits of umbrella insurance, you need to know what it is and what it does:

Think of your umbrella insurance as an umbrella. Your assets are the person using the umbrella and the rain is a danger to your assets. The umbrella keeps the rain away from the person and umbrella insurance protects your assets from any danger to them. Another analogy would be that the umbrella covers all of the policies that you carry are protected and extended with the umbrella insurance coverage. 

Umbrella insurance is an additional layer of liability protection that supplements the liability coverage that you already have. Umbrella insurance is not a stand-alone policy, it can only be purchased if you already have a policy with liability coverage. You don’t need to get it from the same company, but you do need to have a policy. Liability coverage is on many different policies, including home, auto, and commercial. 

How it works is this, if you are sued, your primary insurance will cover you up to the limit of your policy. If you don’t have umbrella insurance, you are responsible for paying any judgment beyond the limit of your policy. If you have umbrella coverage, it will kick in when you reach the limit of your primary policy up to the limit of the umbrella policy. Legal expenses are also covered. 

Get Umbrella Insurance Today

Contact Heimgartner Insurance Inc in Sioux City, IA to discuss how umbrella insurance may be a good choice for you. 

Umbrella insurance policies are increasing in popularity because they protect what your regular home or auto insurance policies might not. Here are five fast facts you should know about umbrella policies before deciding if one is right for you.

1. Umbrella Insurance Provides Additional Liability Coverage

Most people already have some sort of liability insurance to cover the cost of injuring another person or damage to someone else’s property. But personal umbrella liability policies can increase your protection and provide additional coverage for extraordinary situations such as:

• A legal judgment resulting from any copyright, libel, or slander suit.

• Lawsuits resulting from allegations of professional negligence such as malpractice or errors and omissions allegations against an attorney or accountant.

2. Umbrella Policies Do Not Stand Alone

Umbrella insurance is not designed to act as your primary policy. Instead, it supplements the liability coverage in your homeowners and auto policies. Umbrella insurance only kicks in when you exceed the limits of an underlying policy.

3. Umbrella Coverage May Protect You Against Lawsuits

In some cases, umbrella insurance can protect you against a lawsuit even when your primary policy won’t. For example, if you are accused of libel, slander, or copyright infringement, umbrella insurance may protect you against the accusation even if your primary policy doesn’t.

4. Umbrella Policies Typically Cover Additional Expenses

If you’re sued, your primary insurance will pay the damages and then add any remaining expenses such as legal fees to what you owe. An umbrella policy can pick up where your standard policies leave off and pay for these additional expenses.

5. Umbrella Insurance Offers Broad Protection

Umbrella insurance provides broader protection than your home and auto policies. That’s because most basic policies are written with the state’s minimum liability requirements in mind, so they may offer less protection than you need. An umbrella policy can provide extra coverage for unique situations for which your regular policies don’t provide any.

Umbrella policies can protect you financially in the event of a lawsuit by providing extra liability coverage. If you’re looking to purchase an umbrella policy in Sioux City, IA, contact Heimgartner Insurance Inc and speak with one of our insurance professionals today.