5865 Ridgeway Center Parkway, Ste. 300
Memphis, TN 38120
Umbrella insurance refers to a type of coverage that protects you when your underlying policies are exhausted. This allows you to enjoy coverage that exceeds the limits of your primary Tennessee policy. Below, Riskbusters Insurance discusses the types of insurance available to Memphis, TN policy seekers.
Bodily injury liability coverage takes care of 3rd party injury costs that you are found liable for. Examples of injury claims this policy will cover include those originating from auto accidents, pet bites, trips, and falls sustained by guests in your home. If your auto or home coverage gets exhausted, umbrella insurance will come in handy in offsetting the remaining medical coverage costs.
Landlords are also protected when they encounter liability claims on their property, limiting out-of-pocket expenses. Umbrella insurance allows you to cover pet bites sustained by visitors on your property while also ensuring that 3rd party injuries sustained from negligence such as faulty structures are taken care of.
If you damage other parties’ property and your auto insurance can no longer cover the costs, umbrella insurance will pay for the balance. If your guest’s property gets damaged during a visit to your house and your home insurance gets exhausted, this policy will help pay for the repair costs.
Not all claims will be covered by primary policies such as auto, home, and boat insurance, leaving you with everyday claims when you are found liable. Fortunately, umbrella coverage bridges this gap, allowing you to take care of claims such as libel, slander, and false arrest. Additionally, malicious prosecution and mental anguish claims will also be taken care of by umbrella coverage.
Notably, umbrella insurance has a lot to offer its customers. If you reside within Tennessee and need any of the above coverage, consider reaching out to Riskbusters Insurance today. Our policies are customized with Memphis, TN needs in mind.