An essential benefit of an umbrella insurance policy is that it provides additional compensation for legal costs. This extra coverage can protect you from financial disaster if you or your business are sued for a substantial sum of money. However, it’s important for policyholders in Astoria, OR, to understand that even umbrella coverage has its limits. Knowing which legal costs are and aren’t covered under an umbrella insurance policy can help you make informed legal and financial decisions.

Legal Expenses: What’s Covered and What’s Not?

The amount of compensation you receive will vary depending on your chosen policy and the deductible you set when you take out the policy. Generally, an umbrella insurance policy covers the cost of hiring a lawyer and paying a settlement and/or judgment up to the policy limit.

Umbrella insurance will also pay for property damage, medical bills, and funeral costs related to the incident that led to the lawsuit. However, it only covers these costs for third parties, not you or your family members. It won’t cover incidents related to intentional or criminal acts or lawsuits related to a breach of contract.

Need an Umbrella Policy? Linda Dugan Insurance Can Help

Linda Dugan Insurance serves homeowners and business owners in the Astoria, OR area. Our team has many years of experience helping individuals and companies get the best coverage at the best price, and we look forward to working with you to help you pick the best umbrella insurance policy for your personal situation. Contact us to find out more or get quotes on specific policies.