Should someone make unfounded statements against you, you have a right to defend your character and name against defamation, libel, and slander. Doing so can require substantial financial resources, which is where an umbrella insurance policy from Einstein Insurance in Portland, OR can help.

Defining Defamation

Legally speaking, defamation causes damage to the reputation of another person through false statements that are presented as facts. Should claims be made against you that are untrue, action can be taken against them for damaging your character. To quantify defamation, there are a few requisites.

• The lie cannot be stated as an opinion.
• The accuser knows the statement is false but follows through with saying it negligently.
• The statement is made with a reckless regard for the truth.
• The person making the accusation against you must show malicious intent if you are defending a case against you.

What Are Slander and Libel?

Often used interchangeably, the terms slander and libel are forms of defamation with distinct definitions of their own. Libel involves defamatory statement(s) that have been made in writing or digitally. Slander refers to defamatory statements spoken orally, and this type of claim is challenging to prove without recorded evidence. Both libel and slander can be a part of a defamation case.

How Umbrella Insurance Might Help

Umbrella coverage is an optional type of insurance that can be invaluable should someone attempt to defame your image or brand. Umbrella insurance can help with legal fees and any losses suffered due to the attack. Should a case be brought against you, it can give you coverage for any judgments rendered against you by a judge or jury.

We Are Here To Help

Staying ahead of the game is necessary, especially if your name is essential to your livelihood, well-being, and to those around you. Defamation lawsuits can be time-consuming and costly and may involve lost wages and time spent in court, whether you are bringing the suit or someone is bringing a case against you. To learn more about the value of umbrella policies, contact Einstein Insurance in Portland, OR today.

Umbrella insurance policies are an important kind of coverage for anyone who owns assets and wants to ensure their financial security in the event of a large claim or legal lawsuit. Whether you are an individual, business owner, or homeowner in the Portland, OR area, umbrella insurance from Einstein Insurance can provide an extra layer of financial protection beyond your existing liability coverage. 

Benefits of Umbrella Insurance

An umbrella insurance policy is designed to protect you from certain types of costly lawsuits and large claims that exceed your basic liability coverage. These policies are typically sold in increments of $1 million and can provide a financial cushion should you be found liable for damages related to property damage, personal injury, libel or slander damages, or other incidents. 

For individuals, it’s important to consider how much your net worth is before deciding if an additional policy is necessary. If the amount at stake exceeds your current liability limit, then umbrella insurance might be worth considering. Similarly, business owners should take into account the value of any assets owned by the company as well as any potential liabilities, including claims related to product defects or negligence on the part of employees.

Homeowners may also benefit from having an additional layer of protection with umbrella insurance due to risks associated with owning property and being responsible for any accidents that occur on their premises. This type of policy isn’t just for those who have high net worth either; even if you only have basic homeowners insurance coverage and few assets, it could still be beneficial to purchase an umbrella policy in case someone brings a claim against you for millions in damages. 

Give Us A Call

For more information, call Einstein Insurance today. We serve the Portland, OR area. 

In order to protect your family and your investments, it’s imperative to understand the different types of insurance products that are available. At Einstein Insurance, serving Portland, OR, we strive to provide our clients with solid information so that they can make the best insurance choices. Keep reading to learn more about umbrella insurance and how it can benefit you. 

What Is Umbrella Insurance?

Umbrella insurance is a unique type of insurance product that can be customized to suit your particular needs. An umbrella policy is designed to fill in gaps that could be left by other policies. An umbrella policy can be customized to fill in insurance gaps from auto policies, commercial insurance, health insurance, homeowners insurance, and more. 

How Does An Umbrella Policy Work?

If you file a claim with an existing insurance policy and that policy does not sufficiently cover the number of expenses you are liable for, an umbrella policy can kick in to cover further expenses. This is helpful when a claim exhausts another policy. This can happen in situations where damages or liabilities were far greater than anticipated. 

Umbrella policies are especially helpful in cases in which you might be found liable for someone else’s injuries. 

Who Should Get Umbrella Insurance?

An umbrella policy can be helpful for anyone who wants to protect their assets and investments. For those who have a lot of assets or investments, an umbrella policy is a smart way to always ensure those are safe from unexpected expenses. 

If you have extensive property or run a business where others may have opportunities to file liability claims against you, an umbrella policy is one way you can protect yourself. 

If you would like to learn more about umbrella insurance, or any of our other products, please contact us at Einstein Insurance serving Portland, OR.