Umbrella insurance, also known as personal liability insurance, is designed to provide coverage when your other insurance falls short, preventing you from having to pay out-of-pocket expenses. Some people opt for an umbrella insurance policy to cover gaps in home and auto insurance. Others choose an umbrella insurance policy through O’Mahony Insurance Agency LLC to cover personal matters, such as lawsuits.
Legal Trouble
Many umbrella insurance policies provide assistance if you encounter legal trouble. For example, if you are being sued for defamation, the policy may cover the settlement, so you don’t have to. Homeowners in Macon, GA, who are being sued for injuries not covered by their homeowner’s insurance policy can have peace of mind knowing that their policy will help cover a settlement.
Legal Fees
Legal fees and lawsuits often go hand in hand. There are filing fees, attorney fees, and more. Fortunately, most umbrella insurance policies cover legal fees, including lawyer expenses. They may cover the cost of expert testimony and other miscellaneous fees you accrue from going to court or a trial. However, there are a few conditions policy owners should be aware of.
Exceptions
Many policies in Macon, GA, have an exclusion that states you aren’t covered if you intentionally harm another person. For example, if you intentionally slander another person and are sued for defamation, your insurance policy is unlikely to cover it.
Policy Limits
Like auto and home insurance, umbrella insurance has policy limits. Your policy will only pay out an amount up to the limit, even if your settlement is far more significant than your limit. Some policies limit how much the company will spend on legal counsel. Ensure you speak with a professional at O’Mahony Insurance Agency LLC to understand your policy.
