When Should You Consider Buying an Umbrella Insurance Policy?

Navigating the world of insurance can sometimes feel like deciphering a complex puzzle. At McCormick Insurance Inc. in Pembroke Pines, FL, we strive to make it simpler for you. One often overlooked but valuable type of insurance is umbrella insurance. This policy provides additional liability coverage beyond the limits of your existing home, auto, or other insurance policies.

High Net Worth Individuals

If you have substantial assets, an umbrella insurance policy is worth considering. High-net-worth individuals are often at greater risk of being sued and having their assets targeted. Umbrella insurance protects your hard-earned wealth against large claims or lawsuits exceeding your standard policy limits.

Business Owners and Landlords

Owning a business or rental property comes with its own set of risks. If a tenant or customer sues you for damages or injuries that occur on your property, the liability costs can quickly escalate. Umbrella insurance provides an extra layer of protection, covering legal fees, medical bills, and other expenses that might arise from such incidents.

Parents and Pet Owners

Life with children and pets is full of surprises, some of which can lead to accidents or injuries. Whether it’s a backyard mishap involving a playmate or your dog causing an injury, an umbrella policy can help cover the unexpected costs that go beyond your regular insurance coverage.

Frequent Entertainers

If you often host gatherings at your home, you might be at increased risk for liability claims. From slip-and-fall accidents to more serious injuries, having umbrella insurance can give you peace of mind, knowing you’re covered.

Contact McCormick Insurance Inc. in Pembroke Pines, FL today to learn more about how umbrella insurance policies can safeguard your assets and future. We’re here to help you.