Most people are familiar with the basic types of insurance, such as health, car, and homeowners insurance. But there is one type of insurance that many people don’t know about: umbrella insurance. Umbrella insurance is designed to provide additional coverage beyond the limits of your other policies. Dune Lakes Insurance in Inlet Beach, FL offers you this guide on when you might need umbrella insurance.
5 Times You Might Need Umbrella Insurance
1. You Have Valuable Assets
It’s not just the rich who need to be concerned with protecting their assets. Anyone with a substantial amount of assets should consider how those assets could be exposed in an accident, lawsuit, or other unexpected events. For example, if you were to cause a serious accident that resulted in the death of another person, your personal assets and any business or investment interests you have could be at risk.
2. You Have Teenage Drivers in Your Household
If you have kids who are just learning to drive, it’s important to make sure that they, and others on the road with them, are protected. If a teenager causes an accident due to inexperience or negligence, you could be sued for damages beyond the limits of your auto insurance. Having an additional coverage step such as umbrella insurance can help protect you from unexpected costs.
3. You Are a Business Owner
If you own a small business, it’s important to have adequate coverage in the event of an accident or lawsuit. Your general liability insurance may not be enough to protect your interests fully. Umbrella insurance can provide an extra layer of protection for your business and its assets.
4. You Frequently Travel
If you travel often for work or pleasure, you may be exposed to additional risks. For example, if you were to cause an accident while driving in another state, your auto insurance policy may not cover the full amount of damages. In this case, umbrella insurance would provide the extra coverage you need.
5. You Participate in Recreational Activities
If you or your family enjoy sports and other activities that can pose an injury or damage risk, it’s important to have adequate insurance coverage. For example, if you are an avid golfer and injure someone with your golf ball, you could be sued for damages. If you have umbrella insurance, you would be protected against any costs that exceed the limits of your golf or general liability insurance.
Get Umbrella Insurance in Inlet Beach, FL
Umbrella insurance can help protect you from unexpected costs in various situations. Whether you have valuable assets, teenage drivers, or a business to protect, umbrella insurance can provide the extra coverage you need to stay protected. Dune Lakes Insurance offers affordable umbrella insurance policies that can help safeguard your interests and assets. To learn more, call us today.
