Umbrella insurance is optional coverage you can get in Centralia, IL in order to protect yourself from personal liability and give you extra coverage on your home and auto insurance. When you owe more for a claim that your standard insurance covers, umbrella insurance will kick in.
There are a few reasons why it makes financial sense to buy an umbrella insurance policy. If you have wealth or are starting to build assets, then it makes sense to have an umbrella policy. There are also some common things that make people more likely to be sued. If you have dangerous items in your home, like a swimming pool or trampoline, have teenagers on your auto insurance or regularly host people in your home, then umbrella insurance may help protect your assets.
Think about anything that could cause you to pay for damages to your home or if people could get injured in your home. Owning a waterfront home or traveling a lot could lead you to have more damage to your home. Having young children whose friends come over often could lead you to face potential lawsuits.
Regardless if you have your policies with Alcorn Insurance Agency, in order to get an umbrella policy you will already have to have the minimum levels of liability coverage on your home and auto policies. You won’t be able to buy an umbrella policy on its own. When purchasing umbrella insurance, you will want to get a policy that covers 50% or more of your overall assets. This will make sure you protect your assets, which is the point of the policy. Also, make sure the policy lines up with your home and auto insurance so there aren’t any gaps in coverage.
Contact Alcorn Insurance Agency serving Centralia, IL to find an umbrella insurance policy to suit your needs.