When purchasing umbrella insurance, there are plenty of things to consider, but you should first think about all of the possessions you own and their value. The value you have placed on your belongings will create an avenue for how much you need to protect. Make sure to double-check your list of possessions to be sure not to forget any essential things you have. The average umbrella insurance policy covers about $1,000,000 worth of assets. This policy depends on what belongings you have. The more you own, the more you will be required to protect with our umbrella insurance (in terms of property, homes, rental properties, businesses, and much more) if you want excellent and honest coverage.
The risk factor is another thing to consider since an umbrella insurance policy can positively affect your life in such a significant way. Think about everything you have invested your time, money, and energy in. Would you be willing to lose that quickly due to a high-risk factor? If you’re like most people, you’re not ready to lose it all. This situation is what having an umbrella insurance policy from Avery Hall can do to help and alleviate unwanted stress if an accident were to occur. Is it worth it to risk everything you own over one accident, no matter how severe?
Another significant result of purchasing umbrella insurance would be the potential to lose future income. But what does this mean? If an accident occurred and a lawsuit was to follow this accident, then the current assets that you have could be in jeopardy along with the future income due to the severity of the lawsuit. Depending on the person involved, they could potentially take everything from you if you are not covered.
Get the coverage you need by calling an Avery Hall agent today to discuss your insurance needs.