By now you know that having umbrella insurance coverage can mean the difference between accident recovery and financial ruin. But you may be wondering how much coverage you actually need. When determining the amount of personal liability coverage, consider the following three things. A personal umbrella policy can be the box of money you need in order to keep everything else you own.
- Your assets. Take an inventory of the value of your properties, possessions, savings, and other financial assets. This will help you determine the policy limit you need.
- Your risks. Review the potentially hazardous situations that you encounter each day. Any of these dangerous activities or situations could require you to update your umbrella liability coverage accordingly.
- Your income. In the event of a major claim, your current and future salary could be at risk. Review your current income and consider your earning potential to determine a potential loss.
Our experts are ready to review your umbrella insurance needs to find the best coverage for you and your loved ones. Call us today to receive your no commitment umbrella insurance quote.