You know that it’s a good idea, and in some cases a requirement, for you to have auto insurance and homeowners insurance. But sometimes in extreme cases, the coverage you have on your vehicles, homes, or business, just isn’t enough. When a loss is in excess of your policy limits, you will likely be responsible for the difference. It is at times such as those where an umbrella policy can make the difference between life as usual and bankruptcy.
What is an Umbrella Policy?
An umbrella policy is a supplemental insurance policy that is purchased in addition to your primary coverages. Some umbrella policies can also be used as primary insurance for losses that are not covered by an underlying policy.
In today’s litigious climate, anyone could get slapped with a lawsuit. Having an added layer of protection is more important than ever. Umbrella insurance can be a real lifesaver in the event of a major accident or disaster.
Do You Need an Umbrella Policy?
Some things could increase the odds that you should have an umbrella insurance policy. These could include, but are not limited to:
- Having a dog
- Owning a pool
- Frequent guests or parties
- Commuting long distances for work
- Commutes that occur during rush hour
An umbrella policy from Imes Insurance Associates should be a critical part to any comprehensive insurance program. Best of all, it may be the least expensive coverage of all of your policies. Contact one of our agents to determine if one of these policies might be right for you.