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As a lawyer, you need to work with Texas Classic Insurance to get the insurance that keeps your Granbury, TX operation safe. For example, it’s a smart idea to get umbrella policies that can protect you against serious loss if you get into a lawsuit. Here’s what you need to know about this situation.

Lawyers Work a High-Liability Job 

Your commercial insurance should have a liability policy that protects you from various issues. For a lawyer, that typically amounts to lawsuits brought by clients who feel they weren’t properly represented. Most policies pay up to a reasonable amount of your legal fees and expenses. 

What happens, though, if you lose a lawsuit against yourself and your liability runs out? Well, that’s a situation you just don’t want to be in as a high-quality lawyer. Thankfully, an umbrella policy can cover the rest of your payments and ensure that you don’t get caught with a huge bill.

Why Umbrella Insurance is Smart

Umbrella insurance is an extra type of liability coverage that provides you with extra payment if your general policy gets maxed out. As you can imagine, that’s a major benefit for lawyers who might run into serious problems if they get sued due to losing a case or other issues. 

For example, let’s say you get sued for losing a case for a value well beyond what your liability covers. Without umbrella insurance, you’d pay the difference out of your pocket. However, umbrella insurance will pay the leftover liability (to a specific point) and ensure that you don’t pay yourself.

Contact Us Today

At Texas Classic Insurance, our team can provide Granbury, TX lawyers with the umbrella insurance that they need to stay safe. Please don’t hesitate to contact us if you’re interested in this policy type, and we’ll do what we can to ensure that you get paired with a great option

Standard insurance, like a policy for a motorcycle, has a maximum liability coverage limit. If your net worth exceeds this limit, you should consider purchasing an umbrella policy, also commonly known as excess liability coverage. This type of coverage helps protect your assets in the event you are found liable for an accident with catastrophic financial consequences. Motorbike accidents are common, so carrying umbrella insurance from Texas Classic Insurance may be a good idea if you want to safeguard your funds and possessions.

What Is the Purpose of an Umbrella Policy?

Motorcycle accidents in Granbury, TX often go hand in hand with mounting medical bills and legal fees. In some instances, a standard motorcycle policy won’t cover all of these expenses. If you have an umbrella policy, it can pick up where your coverage ends. In fact, the only time you should use an umbrella policy is after your standard insurance’s liability limits have been exhausted.

What Type of Umbrella Policy Should You Buy?

The type of umbrella policy to buy depends on your unique needs. For starters, you need to make sure the umbrella policy kicks in once your standard policy exceeds its limits. For most umbrella policies, this means a minimum of $250,000 in standard motorcycle coverage must be reached. If your standard policy has a limit of only $150,000, then you’ll have $100,000 worth of out-of-pocket expenses to cover before the umbrella coverage kicks in.

Also, you must keep in mind that all umbrella insurance policies work to protect you and your assets. However, only some of these policies apply in certain situations. Consider a situation in which a hit-and-run driver causes you harm while you are riding your motorcycle and you are unable to obtain the at-fault party’s insurance information. In this situation, your standard motorcycle insurance will provide coverage up to its limits. However, umbrella coverage will only kick in if your standard policy includes uninsured and underinsured motorist coverage.

Invest in Excess Liability Coverage Now!

Getting in touch with an independent agent at Texas Classic Insurance is the easiest way to compare coverage, choices, and costs for umbrella insurance in Granbury, TX. One of our agents can shop around for the best prices and help you create a policy that is tailor-made to your specific requirements and budget.