Your retirement should be about enjoying life, not worrying about potential liabilities. This is where umbrella insurance can step in to help. Let’s go over the different aspects of umbrella insurance.
What is Umbrella Insurance?
Umbrella insurance is extra coverage that extends past your standard liability policies, such as homeowners and auto insurance. It generally provides coverage for injuries, lawsuits, and property damage.
Do I Need Umbrella Insurance When I Retire?
- Protect Retirement Savings: Your retirement savings can take decades to build, and one unexpected curveball could put your hard-earned savings in jeopardy. Umbrella insurance extends beyond your standard home or car insurance.
- Affordable: Many people are surprised to find out that umbrella insurance is quite affordable for the coverage it provides. The exact cost will depend on what you are insuring and how much coverage you will need. However, the average cost of a $1 million-dollar personal umbrella policy is $383 per year for an individual.
- Coverage for various activities: Life can be unpredictable, and umbrella insurance can protect you across a wide range of situations. Whether it be injury claims or property damage, you will be covered when you need it most.
- Peace of Mind: Umbrella insurance grants you the peace of mind that you will not be financially devastated by one incident.
Let’s talk
Umbrella insurance can ensure that your nest egg is protected from unexpected risks. Contact one of our experienced Avery Hall agents today at 410-742-5111 for a free umbrella insurance consultation.