Umbrella insurance is extra liability protection that steps in when your other coverages deplete. Its commonly referred to as personal or excess liability. Everyone needs to think of liability risk and what they should do in the event of a considerable accident. Without a proper policy, significant liability claims can deplete your assets. If you live in Meridian, ID, one way to protect yourself against these liability risks is to have umbrella insurance. But is umbrella insurance for everyone? Let’s look at who needs umbrella insurance prepared by Idaho Select Insurance.
- Anyone at risk of non-covered occurrences: Your other home and auto insurance policy only covers some liability risk. Umbrella insurance will be good for you if you risk non-covered liabilities like libel or slander.
- If you have assets: If the insurance you carry is less than the total value of your assets, then you need umbrella insurance to protect your investments.
- If you own a business: Besides commercial insurance, umbrella insurance is also ideal for business owners. Your services or products may cause harm to your customers, which may result in costly lawsuits. Your umbrella insurance will step in such cases.
Other reasons why you need umbrella insurance include:
- If you own a pet, swimming pool, or have a teenage driver, then umbrella insurance make sense for you
- If you entertain people in your home, you are also at risk of lawsuits
- If you participate in dangerous sports
Umbrella Insurance in Meridian, ID
Umbrella insurance is worth the investment. Besides the many benefits it comes with, it is pretty affordable. If you are in Meridian, ID, and looking for umbrella insurance, look no further than Idaho Select Insurance. Call us today for a quote.