Do I Need Disaster Insurance?

As your career continues and your family grows, you need to become familiar with the concept of umbrella insurance. The definition is pretty simple. It’s a type of policy that works in tandem with other coverage you may have—like auto, homeowners, or renters insurance. It merely provides extra protection above and beyond the limits of your standard policies. Basically, it’s disaster insurance.


So, do you need it? Possibly. Ask yourself a few questions.


Do you have a significant amount of assets to be protected?


You should absolutely consider umbrella insurance if your net worth exceeds a few hundred thousand dollars.


Do you need to protect the loss of future income?


If you’re ever sued, you may have to pay restitution out of your future earnings, so take that into account when considering a disaster insurance policy.


Are there possible hazards on your property, like a swimming pool or trampoline?


Your home insurance may not completely cover the cost of medical bills or lawsuits if someone gets injured on your property. That’s when disaster insurance could come in handy.


Do you own an investment property?


A lot can happen on a piece of property—especially when you’re not there. Protect yourself in the event of an accident and subsequent legal action.


Do you own a business?


From an accident to a slander allegation, a lot can impact your business. Fortunately,  umbrella coverage can extend your policy limit and protect your livelihood.


Do you ski, surf, or hunt?


If you regularly participate in a potentially dangerous sport, then you will want disaster insurance.


Do you coach a children’s sport?


Coaching can open you up to personal liability issues. Fortunately, umbrella insurance offers extra protection so you can keep your focus on the game.


Is it possible that your dog might hurt someone?


Take a good, honest look at your fur baby. Is there a chance they might bite at some point? If so, take precautions.


Is there a teen driver in your home?


We all know teens don’t make the best drivers, so plan ahead and get some extra auto coverage—just in case.


If you have any questions, let one of our agents know! We can help find the right policy and the right liability coverage to suit your needs.