Whether you are a homeowner, business owner, or both, protecting your assets against lawsuits and catastrophic liability claims is essential. You have worked hard throughout your career to build the life you have for you and your loved ones, and we want to see that you maintain it.
What is Umbrella Insurance?
Have you heard the stories of individuals losing a lawsuit and being required to pay a large judgment despite not having cash on hand? Even winning a lawsuit can be a “loss” if it results in incurring crushing legal defense costs. An entire lifestyle can be gone forever in the blink of an eye from one moment of carelessness. With a properly-designed umbrella insurance policy, your assets can be protected from these catastrophic liability claims for a fraction of the cost that typical Personal and Commercial liability insurance policies cost.
What Assets Can I Lose?
The assets that can be sold to cover any required costs include the following:
- Rental Properties
- Commercial Properties
- Savings Accounts
- Recreational Vehicles
- Future Income
Anything that you own of value that can be resold is considered an asset. The larger value items are often the first to go. Not only do you need to cover the current value of properties and homes, but also investments, savings, and your future income potential.
What Should I Do Next?
If you are not sure how much umbrella insurance you need or have more questions on why umbrella is so critical to a well-designed insurance program, please reach out to us to discuss your needs.