If you live in Highland Village, TX, you may not have even heard about umbrella insurance. When it comes to taking care of your property and yourself, things like home insurance, life insurance, and auto insurance are likely what comes to mind. To clear things up for you, Thompson Insurance Services wants to give you a brief rundown of what it is and who usually has it. 

A Safety Net 

Umbrella insurance is a type of safety net that you use to supplement your other insurance. When it comes to things like home and auto, you have a duty to ensure that you’re keeping others safe. If you injure someone in a car accident or a guest is injured at your home, you might be held liable for damages. And of course, if you own a business, you need to account for accusations and reputation damage. 

But a standard policy has limits when it comes to how much it can help you. You can increase the coverage of course, but even that might not go as far as you’d like. Umbrella insurance will essentially activate when you’ve maxed out the limits on your other policy. 

Who Should Have It?

If you own property or a car in Highland Village, TX, it’s not absurd to consider the possibility of this kind of insurance. However, it’s often more sought after by those in prominent positions. The CEO of a major company or a community politician may be more likely to accused of wrong-doing and sued for fault. 

If you want an honest opinion about whether to protect yourself, Thompson Insurance Services can help. We’re here to explain how your policy works under real-life scenarios and what you can do to account for the unexpected.