Bonds & Umbrellas
Bonds & Umbrella Policies
Umbrella insurance policies are one of the most important types of insurance a person can have. They provide an extra layer of protection in the event of a lawsuit or other costly legal proceeding. Many people mistakenly believe that their homeowners or auto insurance will cover all damages in the event of a liability claim, but this is often not the case.
An umbrella policy kicks in when the limits of your other policies have been reached, providing you with much needed financial protection.An insurance bond is a special kind of investment that provides the bondholder with protection against certain risks. In exchange for paying an annual premium, insurance bonds can offer a range of benefits including stability, reliability and consistent returns regardless of other financial market conditions. With insurance bonds, investors are secure in the knowledge that their money will always be there when they need it most.In addition to providing safety and peace-of-mind, many insurance bonds also come with attractive tax advantages.
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Frequent Questions
A bond is another type of coverage on an insurance plan that guarantees payment when conditions aren’t fulfilled according to the terms in a signed contract.
An umbrella is extra insurance that provides protection beyond existing limits and coverage of other policies.
Bond and Umbrella policies don’t work together. They are separate policies and will help in different cases.
Having a bond guarantees to pay losses caused by a criminal act or failure to perform a specific act. Having an umbrella helps you not to come out of pocket in a case where your general liability does not have coverage.
Our agency can help you acquire these services.