We all know we need insurance protection for our home, vehicle, and even our life. What many people do not know, however, is that home and auto policies can be exhausted before all of the expenses are paid. What do you do then? Luckily there is a solution; an umbrella policy. At Insurance Shopper, VA, serving Virginia Beach, VA, we love to educate our clients and future clients about topics such as this.
What is Umbrella Insurance?
Umbrella insurance is a type of insurance policy that is designed to kick in if and when your other forms of insurance are exhausted during an accident or liability event. If an insurance policy is exhausted, any money still owed will be your personal responsibility. This can be catastrophic for most people. If you are held liable as the result of an accident involving your car or your home, your entire financial future could be jeopardized.
Who Needs Umbrella Insurance?
Anyone can benefit from this type of insurance, however, individuals who own substantial assets are more at risk. If you hold substantial assets such as property, investments and savings, then you should consider protecting these assets through an umbrella policy.
How Much Coverage Do I Need?
The amount of coverage a person needs is very individual to that person. In order to really understand how much coverage you need, you will need to speak with an insurance representative. They can help evaluate your particular situation to make sure you get the policy that is best for you.
If you would like to learn more about umbrella insurance, please contact our friendly staff at Insurance Shopper VA, serving Virginia Beach, VA.