Umbrella Insurance

Where Can I Get Umbrella Insurance?Many different insurance companies sell umbrella policies. It can be as easy as clicking “yes” online. But if you want the benefit of a trained insurance expert who can analyze your unique needs, call your local Trusted Choice agent.Because Trusted Choice agents are independent — meaning they can sell policies from many companies, not just one — they can comparison shop to find you the best coverage for your needs and budget.Is Umbrella Insurance Tax Deductible?If your umbrella policy is personal, it is generally not tax deductible. However, if you own rental properties or are…

What is Umbrella Insurance?There are two types of umbrella insurance — commercial and personal — and both are considered supplementary to primary, or underlying, policies. Umbrella policies provide critical additional coverage that is often overlooked.A commercial umbrella is designed to protect your business from liability risks related to its operation. It is purchased to add coverage to standard business policies.A personal umbrella is designed to protect your personal assets from liability claims, particularly in scenarios where you may be held liable for damages. A personal umbrella is often purchased as a supplement to homeowners, auto, or renters insurance, because it…

Insurance Considerations for Businesses Insurance considerations for businesses can be many and overwhelming, and even with the best coverage in place, there can still be limits. That’s where a commercial umbrella policy comes in. Designed to give businesses extra coverage for those costs that exceed policy limits, an umbrella policy can be a saving grace for businesses hit with a claim that results in legal costs, medical bills, damage to others’ property, and judgments and settlements — to name a few examples. How does commercial umbrella insurance work? Basically, umbrella coverage extends the coverage that a business already has, providing…