At SOGO, we understand that these things happen. That is why we offer umbrella insurance to all of our clients. Umbrella insurance acts like an umbrella that protects your life from disasters. It will help take care of extra costs that your other types of insurance will not pay. It can also help take care of claims that are not covered by your existing insurance policies, such as lawsuits or false arrests.
However, umbrella insurance does have its limitations. Your other insurance plans will be expected to pay for a set amount of the damage before your umbrella insurance pays for anything, and then it will only cover a set amount of cost. It will depend on what insurance company you choose. This is why you should not try to decide on which policies or companies to choose on your own. We want to help you find the coverage and the peace of mind you deserve.
Now that you know why it’s important to acquire umbrella insurance, we want you to understand how to acquire the right type of insurance policy for you and your family. Here are a few questions that you should ask your insurance company:
- How much coverage can I acquire? You need to make sure that you are acquiring enough insurance, but you also might not need as much insurance as you think you do.
- Do you require a home inventory? No matter what type of insurance you have, we suggest that you update your home inventory list regularly. Umbrella Insurance may be able to cover things that your home insurance cannot.
- What does my policy cover? Most policies will be able to cover anything not covered by your other insurances. For instance, home, health or auto.
- What is the claims process? You need to know when you should make claims, who it will be sent to, and how long the claims process takes.
Though umbrella insurance is important, it is good to know what you should look out for and what questions to ask your insurance provider. SOGO Wealth & Risk Management is here to help!