Having liability insurance is a great form of personal protection. Most people have liability insurance in place through their home and auto insurance policies. However, there are situations in which having more liability insurance is beneficial. One type of insurance that can provide you with additional liability insurance coverage is umbrella insurance. There are several situations in which having umbrella insurance is a practical necessity.
You Don’t Have Base Insurance
The first situation in which you need to have umbrella insurance is when you do not have base insurance policies in place. If you do not have a home insurance policy in place, you likely have no personal liability insurance. If you do not have any liability insurance, it is important that you purchase an umbrella insurance policy to give you coverage. This is also the case if you have base insurance, but your liability coverage levels are too low for comfort.
Higher Risk of Lawsuits
Another situation in which you should consider getting umbrella insurance is if you have a higher risk of being sued for liability. If you are a public figure or high-net-worth individual, you may be more of a target for larger lawsuits. In these situations, one of the best ways to protect yourself from larger lawsuits is by having a full umbrella insurance policy in place.
If you are shopping for umbrella insurance in the Saint Charles, MO area, you should speak with the team at Nieroda Insurance Agency to start your search. The professionals at Nieroda Insurance Agency excel at identifying when people are in need of additional liability insurance coverage. They can then help you get an umbrella insurance policy that meets your needs.