Do I Need Umbrella Insurance
All insurance coverage is designed to protect you in case something unexpected happens. Whether you are concerned about your car insurance coverage when carrying carpool members or you run a construction company, your insurance is designed to kick in when injuries or accidents occur. Understanding liability limits and how to protect above and beyond them is important to avoid judgments against you in the future. Umbrella insurance policies cover claims that exceed your regular homeowners or auto coverage. We live in a lawsuit-happy world and it’s important to protect your financial assets. How do you know if you need umbrella insurance?
- If the total value of your assets are greater than the limits of your auto or homeowners policy
Assets like your checking and savings accounts, home equity, retirement savings and more. It’s important to fully cover your assets so you don’t have the fear of losing them in a lawsuit. - Are you at risk of being sued?
Truly, everyone is. Some people might have a higher risk than others. Factors to consider are owning property, renting property, employing staff, or owning trampolines, hottubs or pools. Have the peace of mind that you’re protecting yourself, family or business. - Having young drivers
Inexperienced drivers are more likely to be involved in accidents. If a driver accidentally injures someone, this policy will cover what exceeds your auto policy.
If you’re not sure when you need umbrella insurance policy, get in touch with American Advantage – IFS Inc. for assistance in Wisconsin.
