Car insurance, home insurance, flood insurance, what’s next?

Most people are careful to make sure that they have all the necessary insurance in their life. Insurance has made its presence in almost every aspect, such as car insurance, home, flood, and more. There’s even insurance for your art collection or antiques. The level of coverage corresponds to the policy limits. Typically when it comes to insuring valuables and collections people tend to purchase the highest possible coverage to protect if something happens to their jewelry, art, antiques, etc. However, when other insurance is evaluated, like car and home insurance lower premiums are achieved by opting for minimum coverage. This is not always the best decision.

The truth is that your home and car insurance can actually be more important than you think. The coverage that you purchase is the limit in which your insurance company responsibility ends and your personal liability begins. Those individuals with significant assets should increase their coverage limits to protect their personal liability. Those that have $150k to $250k in auto coverage and a large home policy but need more, should consider an umbrella policy. An umbrella insurance policy takes over coverage once limits are reached.

This type of insurance coverage is an extra step in asset protection, so this is a decision that should not be made in a vacuum alone. It is best to consult with an insurance agent to review your specific situation and design a plan that will fit your needs. The flexibility of coverage and in the context of the other insurance as well as your assets is all important in making the decision to purchase an umbrella policy.

We know that you have all the basic insurance plans covered, but speaking with an insurance agent is a good idea. Make sure that you are on the right track and have taken into account all the necessary details in creating a comprehensive plan to carry the correct coverage to ensure you sleep well at night.

Content provided by Transformer Marketing.