Umbrella insurance can help to provide the additional financial protection you need.
It can be easy to think that you are covered in case of any peril with your existing insurance policies. However, all of your insurance policies have strict limits, which can leave you paying for certain damages out of your own pocket. Investing in a personal umbrella insurance policy is the easiest way to ensure you have the additional coverage that you need.
While almost everyone can benefit from a personal umbrella insurance policy, some people need the additional coverage even more, including:
· Parents with Teenage Drivers – Young drivers are more at risk to being involved in an accident that includes severe injuries or fatalities. If this happens, most likely your current auto limits won’t be enough. Protect yourself and your family with an umbrella policy. Umbrella insurance policies start at $1 million in coverage and increase in million dollar increments to help keep your finances and personal property covered.
· Small business owners – owning a business comes with tons of risks. While business insurance policies are meant to help mitigate these risks, they can easily be overextended after just one large incident. Your umbrella insurance policy will work to ensure you and your business are property protected.
· Those who drive a lot – the more you are on the road, the higher your chances of getting into an accident. One fender bender can lead to a very expensive lawsuit that may cost more than your auto insurance policy will cover. Your umbrella insurance policy will pick you where your car insurance dropped off due to its liability limits.
· Those who own high risk vehicles – ATVs, snowmobiles, and boats are all considered high risk vehicles. Investing in umbrella insurance helps to cover costs if you are involved in an accident while enjoying your toys. Take a close look at your umbrella policy before buying a high risk vehicle since some policies won’t cover accidents that are caused by certain vehicles.