Is umbrella insurance right for you?

Many people think umbrella insurance is pointless, but is it really? It depends on what you need. Some people do just fine with their auto and home policies, while others need extra insurance. Is umbrella insurance right for you? Let’s dive in and discuss umbrella insurance and whether it suits your needs.

Do you have any added liability risk factors?

If you have anything that adds risk to someone getting hurt on your property or due to your actions, then you might want to consider an umbrella policy. Some risk factors include the following:

• Teenage drivers
• A swimming pool
• A trampoline
• A dog
• Frequently having guests over

What is your net worth?

Someone with a high net worth would benefit more from umbrella insurance than someone just scraping by. Unfortunately, in this day and age, people like to sue. You automatically have a target on your back if you have a high net worth and many assets. They see that you have a lot of assets, and they will do whatever it takes to get some of that for themselves.

Do you own a business?

Someone who owns a business has a lot to lose if someone decides to sue them. If you own a business, you might benefit from umbrella insurance. An umbrella insurance policy will protect you from severe financial loss. Companies have a variety of expenses, and liability issues don’t need to be one of them. One lawsuit could put you out of business.

Contact Insurance & Financial Services Inc.

Contact Insurance & Financial Services Inc. in Baton Rouge, LA for a quote if you are considering an umbrella policy.