Understanding the details of insurance coverage can be daunting. At Gambino & Wasson Insurance Brokers, Inc in Tustin, CA, we believe in helping you find a suitable safety net for any unforeseen financial hits. One pivotal area often overlooked is the coverage gaps that can be filled by umbrella insurance.
What Are Coverage Gaps?
Coverage gaps refer to those areas your current insurance policies may not cover fully. These gaps could leave you exposed to significant financial losses if a claim exceeds the limits on your existing policies.
The Role of Umbrella Insurance
Umbrella insurance is a type of personal liability insurance that comes into play when your standard insurance policies aren’t sufficient. It covers damages above and beyond the limits of your existing insurance, hence filling the coverage gaps.
Examples of Coverage Gaps Filled by Umbrella Insurance
- Bodily Injury: Medical bills and liability claims can quickly exceed the limits of an auto or home insurance policy. Umbrella insurance can cover these excess costs.
- Property Damage: In an incident where you are liable for significant property damage, umbrella insurance can cover costs that exceed your existing coverage.
- Legal Fees: The cost of defending yourself in court can rapidly deplete your resources. Umbrella insurance can help cover these legal costs beyond your standard liability coverage.
At Gambino & Wasson Insurance Brokers, Inc in Tustin, CA, our team is ready and waiting to help you understand your coverage gaps and the benefits of umbrella insurance. Securing the right coverage could make the difference in protecting your financial future.
