Protect Your Assets with an Umbrella Insurance Policy

This type of insurance policy is designed to help protect you from major claims and lawsuits and as a result it helps protect your assets and your future.

Most people with income, property and some savings should consider getting an umbrella policy of at least $1 million, which can protect your assets and future earnings from lawsuits.

An umbrella liability policy is one of the most overlooked but important ways to limit your financial risk. The coverage kicks in if you injure someone or cause property damage and are sued for more than the liability limits on your homeowners or car insurance.

A $1 million policy can cost as little as $150 per year if you have a home, two cars and no other major risks. Before you can add an umbrella, you usually must have at least $500,000 in liability coverage on your home and car insurance, which will pay out first.

If you have more than $1 million in assets, you should consider a larger policy. Doubling the coverage generally won’t double the premiums.

The Agent Insurance Services | (330) 758-3339

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