We all know that umbrellas provide protection from the drench of a spring rain, but umbrellas are important in the insurance world as well. The purpose of an umbrella insurance policy is to take care of all aspects of your life including some elements that are over and above your home and auto policy.
Think about your assets – do you own your home, have a savings, retirement fund or a stash of cash in your sock drawer? Are you one of the quickly growing numbers in the workforce that own a home-based business? Do you own a rental or vacation home? Add these assets up and compare them against the limit of liability on your home and auto policy. Is there enough? In the unfortunate event that you are sued, an umbrella policy can protect all of this – with some policies being offered in amounts up to 5 million dollars. An umbrella policy can even foot the costs of your defense regardless of judgement.
Some of the things that you can safeguard your family and your business from include personal injury against libel, slander, false arrest, character defamation and mental anguish. In today’s world of Twitter wars and Facebook stalking nothing is certain. If you own your own business or have built up your name in the community, a social media campaign against you from an unsatisfied customer or disgruntled employee can have a devastating effect.
Take your protection into your own hands this year and let’s talk about how I can shelter your family and your assets from the storm of life!