When Does It Make Sense to Get Umbrella Insurance?

Umbrella insurance can provide important additional protection if you’re sued over a covered situation. While it’s not for everyone, there are many residents in Lansing, IA, who can likely benefit from this coverage. Here’s a look at when it makes sense to get umbrella insurance.

High Risk of Liability Lawsuits

If you engage in activities that increase your risk of being sued for damages, umbrella insurance is worth considering. High-risk activities can include some sports or recreation, like hunting, boating, or hosting large gatherings, as major accidents can occur during any of these things.

Owning property can also increase your risk of a lawsuit, as you might be held liable for any injuries that occur on your property. This can be a particular risk if you have any waterfront property in Lansing, IA.

Significant Assets to Protect

Individuals with substantial assets benefit significantly from umbrella insurance. If you have notable savings, have large investments, or own valuable property, this extra coverage can protect your assets from being targeted in a lawsuit.

Sometimes coverage is purchased to better insulate historic family properties, even if they aren’t worth very much.

At Kerndt Brothers Insurance Agency, we can help make sure you have umbrella insurance and other protections in place so any valuable property you own is well-guarded.

High Exposure to Potential Liability

Certain professions or lifestyles that involve high-profile status can increase the likelihood of lawsuits. Public figures, well-known business owners, or those in high-visibility professions should consider umbrella insurance for added protection.

Kerndt Brothers Insurance Agency Is Here To Help

To explore whether umbrella insurance is right for you, contact Kerndt Brothers Insurance Agency. Our team can help assess your unique situation and guide you toward the right decision as to whether you should get coverage.

I already have insurance. Why do I need an umbrella policy?

The purpose of an umbrella policy is to provide you and your family with protection in the event that you are found liable for something like bodily injury, property damage, or financial loss. An umbrella policy will help protect your assets and income from being used to pay damages that result from a lawsuit. Kerndt Brothers Insurance Agency is happy to assist Lansing, IA area residents with this important coverage. 

Why Umbrella Insurance?

There are many reasons why someone might be sued. Some common ones include accidents caused by reckless driving, injuries sustained during a physical altercation, or even financial losses related to real estate or business activities. Because people can be held liable for such events even if they’re not at fault, it’s important to have an umbrella policy so that you don’t have to worry about losing everything if you become involved in a costly legal case.

When choosing an umbrella policy, it’s important to make sure that the coverage limits are high enough to protect you from any potential liabilities. Depending on your income and assets, you might need millions of dollars worth of protection to keep yourself protected. Additionally, you should work with an insurance agent who is experienced and can advise you on which types of liability claims are likely for someone with your specific occupation or activities.

Contact Us Today

If you’re wondering whether an umbrella policy makes sense for your situation, talk to an insurance agent today about getting one in place. With proper protection from an umbrella policy, you’ll have peace of mind knowing that your family will be taken care of financially in case the worst happens. At Kerndt Brothers Insurance Agency, we have been proudly serving the Lansing, IA area for many years. Give us a call today!