You know you need insurance to protect your assets, but what can you do when traditional policies are not enough? Regular home and auto policies only cover up to a certain amount. In the event of an accident or liability event, these policies can become exhausted. If there are still expenses to be paid then you, as an individual, will be responsible for that. There is a solution, though. At Voi Insurance Solutions LLC, serving Glendale, CA, we are here to educate our clients and potential clients on these topics.
What Is Umbrella Insurance?
Umbrella insurance is a type of insurance policy you can purchase which will kick in when other forms of insurance have been exhausted. If for instance, someone is injured at your home and chooses to hold you liable, your homeowner’s insurance will pay up to a certain amount. Beyond this amount, an umbrella insurance policy can kick in to cover the remainder of the expenses owed. Although anyone will benefit from this type of insurance, individuals who have substantial assets will benefit the most from this type of protection. Assets such as property, investments, and savings are all types of assets that could be in danger during a liability event. Umbrella insurance is the best way to make sure that these assets are protected no matter what may happen.
How Much Umbrella Insurance Do I Need?
The amount of insurance an individual will need is dependent on the number of assets you are trying to protect. The best way to pinpoint a good coverage amount is to speak with an insurance representative.
If you would like to learn more about umbrella insurance, please contact us at Voi Insurance Solutions LLC, serving Glendale, CA.