Umbrella insurance is an important type of insurance coverage that can provide crucial protection from expenses and liabilities. At All Nations Insurance, serving Renton, WA, and the surrounding areas, we aim to help clients make the best insurance choices by providing solid information and guidance. Keep reading to learn more about who needs umbrella insurance.
How Does Umbrella Insurance Work?
Umbrella insurance is a type of insurance policy that can be customized to suit your particular needs. An umbrella policy will kick in in the event that another insurance policy is exhausted by a claim. This can happen when a claim is far more expensive than anticipated. An umbrella policy can kick in to cover expenses not covered under an auto policy, health policy, homeowner’s policy, or commercial insurance.
Who Will Benefit From This Type of Policy?
Anyone can benefit from an umbrella policy, but there are certain situations in which this type of policy is highly recommended. If you have a large number of assets or investments which you wish to fully protect an umbrella policy is a good choice. This type of policy will kick in to ensure that your assets, savings, and investments will not be touched in the event of an expensive claim.
Business owners can also greatly benefit from this type of policy. Business owners are at a greater risk of liability than many other people. You have worked hard to build up your business and an umbrella policy can help you protect those investments.
If you would like to learn more about umbrella insurance or any of our other insurance services, please contact us at All Nations Insurance serving Renton, WA, and the surrounding areas.