Personal Umbrella Insurance
If you ask five people what a personal umbrella insurance is, chances are you might get five different answers. Umbrella insurance is the most misunderstood of all insurances. One thing you can be sure of isn’t insurance on your umbrella. At Integrated Insurance Advisors LLC in Boiling Springs, SC, we are owned locally and we believe in listening to our customers to get to know them and their needs better. As independent insurance agents, we can offer our customers more choices.
Do I need umbrella insurance?
There is a pretty good chance that yes you do. Do you own a home? Have you accumulated any other assets? Do you have a retirement investment portfolio? If you answer yes to any of these things, then yes, you can benefit from umbrella insurance.
How much umbrella insurance do I need?
You need to add up the value of your assets. Start with your home and then any items of value that you have. Don’t forget your investments and your retirement 401k etc. These are all assets that could be lost to an accident or a lawsuit. Make sure that you have enough to protect everything that you have for assets.
What does umbrella insurance not cover?
Umbrella insurance protects your assets but does not cover them. It is designed to pay out other people who are injured by you. Your personal property won’t be covered for damages to it.
Do I need to have the same carrier for my umbrella policy as my other policies?
No, you do not need to have one carrier for your primary policy and umbrella policy, but it is often financially beneficial to have one carrier. Most companies will offer multi-policy discounts.
Contact Integrated Insurance Advisors LLC in Boiling Springs, SC if you want to know more about umbrella insurance.