National Umbrella Month: Umbrella Insurance
March is National Umbrella Month. Thomas Edward Knibb declared it so to celebrate the invention of one of the “most versatile and underrated inventions of the human race.” The umbrella is quite a functional piece of equipment. It allows you to traverse the natural elements and come out dry and happy. The invention was so inspirational that Insurance companies decided to name a policy after it
Umbrella insurance works very much like an umbrella you would use to keep the rain away. Taking a look at the anatomy of an umbrella will help you understand what umbrella insurance does for you.
The fabric is what keeps the water off of you. Without it, the frame would be a useless tool.
Umbrella insurance covers everything that falls underneath its wing. Just as long as the frame reaches that far, the fabric will protect the policy holder from lawsuits and incredible financial burdens.
A rib is a long, thin, curved metal rod that extends from the top of the umbrella down to the tip. Ribs reach out from the central rod to cover every part of you. They work by giving the fabric something to hold onto. Without the rib, the fabric couldn’t be stretched out to cover your body from the rain.
Umbrella insurance takes liability insurance from your house, and stretches it out to cover you when you leave the property. Normally you would be safe within your own home, but the minute you walk out the door, you are liable for any accidents or damages you cause. Umbrella insurance helps cover all parts of you, no matter where you go.
You only carry an umbrella when you go outside. You would never think to carry it around indoors. It serves no purpose there because you’re already covered from the rain.
Umbrella insurance gets put away when another insurance policy is already keeping out the bad. It is no longer in effect when your home or car insurance has got you covered. It has it’s uses in extending coverage everywhere else, but even it has it’s limits.