Florida Insurance Blog

Why Florida Residents May Want to Consider Umbrella Insurance

Residents of the Tampa, FL area may not know about the steep benefits umbrella insurance can offer. Some think that umbrella insurance is only for the richest people in the world, but that couldn’t be farther from the truth. 

Umbrella insurance exists to fill in the gaps when your standard policies run out. Morgan Insurance Services is happy to help educate our customers on the various ways that umbrella insurance is a beneficial addition to their insurance policy. 

Whether you own multiple homes, recreational vehicles, investment properties, or vintage cars (among many other things), umbrella insurance can step up to the plate when the coverage on your investments runs out. 

Additionally, umbrella insurance can be used to cover personal liability instances, including slander, libel, and false arrest. Many people don’t realize that umbrella insurance goes far beyond the standard of what insurance is known for. This is another reason why umbrella insurance is suited for everyday people, not just the 1%. 

Umbrella insurance also fills in for bodily injury liability, property damage liability, and protects owners of rental units. It’s a very versatile type of insurance that is worth looking into if you have many assets and investments out in the world and want them to be fully covered.  

Morgan Insurance Services is proud to serve the Tampa, FL area. If your insurance policy needs some adjusting, feel free to contact us anytime. Our team of agents is experienced in many types of insurance and we are happy to help you determine what coverage is most necessary for your peace of mind and for your financial protection. 

Contact us today! 

4 Benefits of Umbrella Insurance

Most people have the perception that umbrella insurance is supposed to cover the wealthy only, but this is not factual. Umbrella insurance offers extra liability protection to protect anyone with a source of income.  If you buy umbrella insurance from Morgan Insurance Services in Tampa, FL, you will accrue the below benefits.

It protects your assets and future income

Given that lawsuits can be expensive, umbrella insurance comes in handy by protecting your assets when you are faced with significant financial claims. For instance, if you cause an accident that exceeds your car insurance limit, umbrella insurance takes over from where your car insurance leaves off, saving your assets and income.

Since anyone can be sued, umbrella insurance is suitable for anyone earning a source of livelihood. This coverage protects your assets in the worst-case scenario.

It saves you anywhere in the world

Your boat, home, and car liability coverages aren’t recognized outside the US. However, umbrella insurance can protect you when you are outside the country.

It protects you from liabilities not covered by other liability coverages

Umbrella insurance not only gives you higher limits but also provides broader coverage. Umbrella insurance shields you from personal liabilities like libel and slander that aren’t covered by other conventional liability coverages.

It’s affordable

There is a popular myth that umbrella insurance is out of reach for most folks. This preconceived notion is a lie. It will surprise you that $1million umbrella coverage will only cost you very little compared to the protection it gives you.

Umbrella insurance near me

Would you like peace of mind with umbrella insurance? Would you like to protect your assets and future? Umbrella insurance is your safest bet when it comes to lawsuits. If you are in Tampa, FL and its environs, please contact Morgan Insurance Services for an affordable quote.

5 Reasons Why Florida Residents Should Research Umbrella Insurance Policies

Morgan Insurance Services proudly serves the Tampa, FL community. We understand that each of our clients has unique individual needs. That’s why we offer multiple types of insurance coverage to help our clients protect what matters most.

5 Reasons Why Umbrella Insurance Is An Asset

Umbrella insurance provides an additional layer of protection during emergencies. The policy helps support your liability coverage if you are involved in a serious liability dispute. Traditionally, umbrella insurance protects you if you are held liable for the damages caused in an auto accident or if someone suffers serious injuries at your Tampa, FL residence. Here is a look at a few reasons why you should research umbrella insurance.

Protect Your Assets

Accidents can happen at any time. Umbrella insurance allows you to protect your assets if something goes wrong. Your assets may be at risk if you are involved in a serious liability dispute. Umbrella insurance helps alleviate some of your stress as you go through the process.

Covers Your Pet

If your pet is having a bad day and causes damage to someone else’s property, umbrella insurance will protect you.

You Offer Advice

If you have an avid social media following or you hand out advice as part of your career, umbrella insurance may be an asset at some point. If you write a negative review of a business or criticize someone, they can pursue litigation against you if it negatively impacts them.

You Have Teenage Drivers

If you are a teenage driver’s parent, umbrella insurance can protect you if they are involved in a serious accident. This will give you peace of mind as you go through the process.

You Have A Pool

If you have a pool at your home, umbrella insurance can protect you if disaster strikes and someone is injured while using your pool.

Morgan Insurance Services Will Help You Protect Your Assets

Visit our website today to learn more information about umbrella insurance.

What is umbrella insurance and why do I need it?

When you live in the Tampa, FL area, you get used to rain. It can come down hard and fast, and an umbrella is something that can be very useful to keep from getting drenched. An umbrella insurance policy offers your finances the same type of protection. At Morgan Insurance Services, providing you with insurance information is what we do best, and we are happy to explain what umbrella insurance is and how it could be of benefit to you. 

Umbrella insurance is excess liability insurance. Unlike other insurance policies, you can not purchase an umbrella policy unless you already have another insurance policy, such as home or auto insurance. What the umbrella policy will do is extend the limit of the policy that you already have. With judgments going through the roof, if you have a legal suit filed against you, an umbrella insurance policy adds an additional layer of protection above the limits that you already have. 

The liability limits on most home and auto insurance can be quite basic, you can opt to raise them within the original policy, but this does not give you the level of security that an umbrella policy provides at a very reasonable price. An umbrella policy can also help to pay for the legal fees that can arise from a claim or judgment against you. A typical umbrella policy will add between one and five million dollars in additional liability protection. If you have assets, this can provide the peace of mind that you are looking for. 

At Morgan Insurance Services in Tampa, FL, our team is here to provide the information that you need to make an informed decision about the benefits of umbrella insurance to your overall financial plans. We welcome you to stop by our office or give us a call to make an appointment to sit down together.