Most people know that they need insurance to protect them from the risks of everyday life, but many don’t realize that umbrella insurance can offer additional protection. Umbrella insurance is a type of liability coverage that kicks in when the limits of other policies have been reached. It can provide peace of mind by protecting you from significant financial losses resulting from accidents or legal judgments.
What does umbrella insurance cover? Umbrella insurance typically provides broad protection against a wide range of risks, including:
- Property damage
- Legal judgments
- Other liabilities that exceed the limits of your other insurance policies.
How much does umbrella insurance cost? The cost of umbrella insurance will depend on various factors, including the coverage limits you choose, where you live, and your individual risk profile. Typically, umbrella insurance is relatively affordable, with premiums ranging from around $150 to $300 per year.
Who should buy umbrella insurance? Anyone who wants to protect themselves against the financial risks associated with accidents, injuries, and legal judgments can benefit from purchasing an umbrella policy. However, it is vital for those at higher risk of incurring large losses due to their occupation or lifestyle, such as business owners, professionals, and high-net-worth individuals.
Umbrella insurance is essential to any comprehensive insurance plan and can provide peace of mind by helping you protect yourself from various potential financial losses. If you’re interested in learning more about umbrella insurance or getting a quote for coverage, give Christensen Insurance Group a call today. We proudly serve Sandy, UT, and the surrounding areas and are always willing to help you get the coverage you need.