An umbrella insurance policy is an important consideration for everyone. However, it becomes particularly important if you hold a lot of personal property or other assets. An umbrella policy can step in and provide additional liability coverage when you exhaust the policy boundaries of your existing insurance, protecting your holdings. B & G Insurance serves Miami, FL and is ready to discuss your umbrella insurance needs.
Do you carry a lot of insurance policies?
If you already have a number of insurance policies on your personal property, such as boat insurance, RV insurance, auto insurance, and home insurance, you are a likely candidate for an umbrella policy. This is even more true when you have multiple pieces of property insured on each policy. Each item is an asset, and each policy indicates a certain level of exposure to liability. If an accident occurred at a home, in a car, or while recreating, your umbrella policy can step in.
Do you work in a high-risk profession?
Certain umbrella policies can also provide protection from libel and slander suits and other professional liability hazards. When you work in a high-risk industry, always speak to your insurance agent about an umbrella policy and if it covers work-related hazards.
Do you have substantial savings or investments?
If the answer is yes, you need an umbrella policy to protect your holdings in the event of a lawsuit. Even if you opt for high coverage on existing auto or home policies, an accident involving multiple people can quickly max out your coverage. The umbrella policy steps in at this point to provide additional coverage if you are sued for damages or face additional medical bills and fees.
To discuss your particular situation with an insurance agent, contact B & G Insurance serving Miami, FL. We are prepared to answer all of your coverage questions and provide quotes. Call today or visit our website to find out more.