For those who aren’t familiar with the term, umbrella insurance is a special type of coverage that helps you pay if you lose a lawsuit. It seems like strange insurance for the average person to have, so it’s easily dismissed. Don’t ignore it until you know a little more. According to the folks at Dune Lakes Insurance, these are the situations that can make a resident of Inlet Beach, FL, at higher risk of being sued.

You Have Something to Lose

This is the cardinal rule of determining how much umbrella insurance you should carry, and it holds true for businesses and individuals. If you have assets, they could be used to determine how much you owe in a lawsuit. Typically, your standard insurance policies include liability for things like bodily injury and property damage, but when you have something to lose, you could find yourself on the hook for more than those policies cover. That’s the whole point of umbrella insurance.

You Work With Minors

Working with kids can be the most rewarding thing you do with your time. Unfortunately, kids can be clumsy, and working with them comes with some risks. This is especially true if you coach sports. Liabilities assigned in the case of injured minors usually run high. As a society, we value children, and this gets reflected in court decisions. An umbrella policy here is one you especially hope to never need, but it’s important.

You Have Subordinates

When you read that, you probably assume it applies to business owners and operators. That’s true, but it can apply to virtually anyone. If you have kids, they can have accidents. Guess who’s liable. The same applies to pet owners. You love your furry babies, but they can’t help you pay damages that they might cause.

Knowing that you have need for umbrella insurance is only the first step. You still need to find the right policy. Your Dune Lakes Insurance agent can help. They serve the Inlet Beach, FL, area, and they’ll be happy to help you too.