umbrella

Will Umbrella Insurance Pay for a Lawyer if I Go to Trial?

Posted on by AgentInsure

The investment in umbrella insurance is necessary for many people who have significant risk. While your general liability insurance provides financial protection against risks, this form of insurance goes further by offering an additional layer of protection when significant losses occur. That may include paying for legal costs related to going to court.

At Runnels Insurance, we help our clients to obtain the right level of protection for their needs. If you are considering umbrella insurance in Brandon, FL, there are several factors to keep in mind.

What Does Umbrella Insurance Do for You

Umbrella insurance provides financial coverage for losses arising from claims against the covered parties. It helps extend the amount of coverage you have beyond what a basic policy offers.

In some situations, a person filing a claim against you may do so with the expectation of going to court. Or you may have to defend yourself in reaching a settlement. In these situations, your umbrella insurance may offer additional protection for you. This includes paying for the attorneys who will represent you in these situations. Your policy may include coverage for the lawyer as well as legal defense costs in situations where you do go to trial. This extra layer of protection minimizes the risk that you could face costly fees when someone files a claim against you.

Finding the Coverage Best Suited for Your Needs   

At Runnels Insurance, we aim to help you gain protection from all risks you have. Set up a consultation with us now to go over what your risks are. If you need umbrella insurance in Brandon, FL, we can help you estimate the value and the level and type of coverage best suited to your situation. Contact us now to learn more.

Umbrella Insurance: Common Exclusions

Posted on by AgentInsure

Umbrella insurance in Brandon, FL is designed to protect you from liability lawsuits. It can help cover the cost of legal defense or pay a settlement if there’s a judgment against you. However, there are certain situations where your claim may be denied. Here’s what you need to know.

Intentional Defamation

Defamation lawsuits can be complex when it comes to umbrella insurance coverage. A claim may be denied if the insurer determines that you intentionally made defamatory statements with malicious intent. For example, if you were trying to harm someone’s reputation, the insurer may reject your claim. If you’re facing a defamation lawsuit, it’s important to speak with an agent at a company like Runnels Insurance for guidance.

Claims Not Related to Liability

Umbrella insurance is specifically designed to protect your assets and finances in liability lawsuits, such as cases where someone is injured on your property and sues you. It does not cover other types of claims, such as property damage or your personal medical bills.

Policy Exclusions

Umbrella insurance policies often include specific exclusions. For example, personal policies may exclude lawsuits related to your business, while business policies may exclude personal liability claims. Some policies also exclude defamation lawsuits or claims related to professional services, such as legal or accounting work. Additionally, business policies may exclude lawsuits involving environmental issues.

Since exclusions vary by company, it’s essential to review the details of your policy. Speak with a professional representative at Runnels Insurance to learn more about the fine print. We believe in transparency, so you won’t face surprises if you ever need to deal with a lawsuit. Contact us today to learn more. We proudly serve the Brandon, FL area.