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Home UmbrellaInsurance policies for your home and car go a long way toward protecting you from financial risk. However, many people don't think about what would happen if the policy limits were exceeded because of a lawsuit. In addition, they often rule out umbrella insurance because of some very common misconceptions. Three of these misconceptions about umbrella insurance are discussed below.

1. I Get Enough Coverage from My Current Insurance Policies

Lawsuits over personal injury suffered on one's property or as the result of a car accident are a common occurrence today. The amount of damages awarded in these cases may exceed the limits of the typical auto or home insurance policy. Severe injuries require expensive medical attention. Lawsuits also include other damages such as loss of wages and pain and suffering. Depending on the severity of the injury and the skill of the lawyer, the awarded damages can exceed the limits of your insurance policy.

2. Only the Wealthy Have to Worry About Getting Sued

Anyone can get sued. Driving a car is full of risk because you can get into an accident with anyone. The possibility of getting sued after a car accident doesn't necessarily depend on how much you were at fault. The decision to sue is based on a lawyer's assessment on whether he can win the case. Accidental injuries can also happen when others outside your household enter your property. Accidents are a fact of life and whether they result in a lawsuit or not depends on the severity of the injury.

3. Umbrella Insurance Premiums are Expensive

Umbrella insurance gives you exceptional coverage for the premiums you pay. A premium of a few hundred dollars per year can get you a million dollars of coverage. Remember that umbrella insurance is an "add-on" form of insurance. You must have an auto or home insurance policy in place before you can get umbrella insurance.

The policy limits of either your auto or home insurance serve as the deductible for your umbrella insurance. Therefore it pays the difference after the limits of your other insurance policies are exceeded. Umbrella insurance coverage includes property damage, personal injury and other forms of personal liability claims.

Protect your family and assets with umbrella insurance. Compared to the security you get, the cost is small. Talk to your independent insurance agent about how much coverage is right for you.

Prepare for the unexpected. Call G & H Financial Insurance Services at (281) 395-5497 for more information on Katy umbrella insurance.
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