Umbrella Insurance in Denver, CO

Some Denver residents have insurance but still end up having to cover expenses related to unforeseen circumstances because they are either underinsured or their policy has exemptions that leave holes in their coverage. Umbrella insurance protects Denver area inhabitants in the instances where costs exceed their conventional insurance limit or are not covered at all and comes highly recommended for those with considerable assets and or lifestyle risks. It is better to be safe than sorry, and always better to be overcovered than underinsured, which is where umbrella insurance comes into play.

Umbrella Insurance for Liability Limits in Denver

Traditional insurance carriers in Denver will cap coverage at a certain amount, meaning that is the maximum they will pay out for a claim and the remaining balance is the policyholder’s responsibility. Home and car insurance policies usually cover up to a few hundred thousand dollars, but charges related to some unfortunate incidents can total much more than that between bills, legal fees, and losses, so those in Denver who do not possess umbrella coverage are left to pay the difference. Umbrella insurance is extra coverage that will cover whatever Denver residents owe after their regular policy hits its liability limit. For just a few hundred dollars a year, you can get umbrella coverage can protect you from owing thousands should something that exceeds your traditional insurance’s liability limits takes place.

Full Protection with Denver Umbrella Coverage

Another issue with traditional insurance policies is that they have exclusions and exceptions in the fine print for specific incidents that are not covered, potentially leaving Denver residents vulnerable to incurring large expenses. Umbrella insurance is designed to be a safeguard for all events that fall in these cracks and could leave a Denver policyholder liable, like international incidents, pet-related injuries or damages, and defamation lawsuits. Some incidents are unfathomable until they actually occur, so it’s very difficult to prepare and protect yourself from them with a stated policy, which is why umbrella insurance is so beneficial in its versatility.

When Could Umbrella Coverage Be Useful in Denver?

  • Auto Insurance Limits

    –In the case that you unfortunately cause a car wreck in Denver and are sued for $75,000 in auto repairs and $200,000 in hospital bills – a total of $275,000. Your auto insurance will pay up to the liability limit of $200,000, but your umbrella coverage will handle the rest.
  • Home Insurance Exclusions

    – Your dog rips up the neighbor’s carpet, resulting in a $2,500 bill. However, your Denver homeowner’s insurance policy has a breed exemption for rottweillers.They deny the claim to be covered as part of your liability protection, but your umbrella insurance will cover the expenses because its liability conditions cover that.