How Much Umbrella Insurance Do I Need?

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How much umbrella insurance do you need? This is a question that a lot of people are asking these days. The answer, of course, depends on several factors. Umbrella insurance can provide peace of mind in case something happens and you are sued. We’ll discuss some key things to consider when determining how much umbrella insurance you need. . 

Umbrella Insurance: How Much Do You Need?

You Have Assets to Protect

You have a lot to lose if you’re ever sued. If you don’t have umbrella insurance and are found liable for an accident, the court could order you to pay damages exceeding your auto or homeowners insurance policy limits. The Sirover Agency LLC in Wayne, PA can help you choose the right amount of umbrella insurance to protect your assets.

You Have a High-Risk Job Or Hobby

If you have a job or hobby that puts you at greater risk of being sued, you may need umbrella insurance. For example, if you’re a doctor or lawyer, you may be more likely to be sued for professional malpractice. If you’re an investment banker or stockbroker, you may be more likely to be sued for financial losses that your clients suffer. If you’re a celebrity or public figure, you may be more likely to be sued for libel or slander.

You Have a Lot of Visitors to Your Home

If you entertain guests frequently at your home, you may want to consider umbrella insurance. If a guest is injured on your property, you could be held liable. Umbrella insurance can help protect you from having to pay damages out of your own pocket.

You Live in a High-Risk Area

If you live in an area that’s prone to natural disasters, such as hurricanes or earthquakes, you may need umbrella insurance to protect your home and belongings from damage. Umbrella insurance can also help if you’re sued for damages caused by a natural disaster.

Give Us A Call

The amount of umbrella insurance you need depends on your individual circumstances. The Sirover Agency LLC in Wayne, PA can help you determine the right amount of coverage for your needs. Give us a call today to learn more.