Many believe they don’t need umbrella insurance because they might become ‘over-insured.’ However, umbrella insurance is designed to provide extra coverage for those who need it. If certain premiums are maxed out, it can benefit individuals and business owners. If you’re still unsure, our professionals at Securum LLC in Lynnwood, WA, can help guide you through what you need to know.
What Does Umbrella Insurance Do For Your Assets?
Umbrella insurance enhances your coverage by providing additional coverage beyond your standard insurance. A policy may have specific limits or limitations on what is covered. Adding umbrella insurance allows you to extend your coverage beyond these minimum limits.
Furthermore, umbrella insurance can provide asset protection, help with legal defense costs if items are damaged or stolen, and even help with savings. All these elements are essential when insuring your assets. Otherwise, you could be out of luck if you hit the cap on your policy.
What Should I Know Before Adding Umbrella Insurance?
Before adding umbrella insurance, you’ll want to check a few aspects of your existing policy. Firstly, check your policy’s limits and limitations. Some policies have much higher coverages than others, so you may not need umbrella insurance.
Next, check for any exclusions. Many policies have exclusions or limitations that aren’t included in the coverage. If you don’t check carefully, you may miss something that you thought was covered but isn’t. If this is the case, adding umbrella insurance could help with that coverage.
How to Choose What Umbrella Insurance You Need
Since umbrella insurance is added to existing policies, it can be confusing to determine when you need it. Talking to a professional at Securum LLC in Lynnwood, WA, can help if you’re debating whether you need the extra coverage. We’re here to discuss policy options and help you find the one you need. All you need to do is contact us today.
