Save Your Essential Life Assets with Umbrella Insurance
How an Umbrella Policy Protects Your Assets
There’s no doubt about it; we live in a litigious society. Lawsuits and freak accidents are headline fixtures. Everywhere you look, there’s a story about someone being sued or a tragic accident occurring somewhere. We’re always quick to think that the worst will never happen to us. The reality is that it can, and accidents can happen to anyone. Fortunately, with the right umbrella insurance in Westlake Village, CA, you and your assets will be assured financial safety in the event of a lawsuit being filed against you.
With no umbrella insurance policy, you may not be aware of what you put at risk. Your children’s college education, your life savings, your vehicles, and your home may be at risk. The essential purpose of an umbrella policy is the protection of assets from unforeseen disasters which you may be found liable and have to face a major lawsuit.
Who needs an umbrella policy?
You are at a higher degree of liability risk if you:
- Are public figures or community leaders
- Own multiple automobiles
- Own private or commercial boats
- Own multiple homes
- Own dogs, horses or other large animals
- Have a pool/hot tub/playground on the property
- Have an active presence on social media
How much is enough?
You should have enough coverage to protect all of your assets. This means that you should consider the value of your savings, properties, and belongings. For most, $1 million of coverage will be sufficient. If you have assets that exceed this amount, be sure to purchase additional coverage.
Are you looking to protect your belongings with umbrella insurance? Talk to the professionals at Falsken & Associates Insurance Agency to get started on your tailored policy today!