Umbrella Insurance in Florida
Understanding how the different insurance products work is crucial to helping you make the right insurance decisions. At Abney Insurance, serving Oakland, FL, we make it our job to educate our clients on important insurance topics. Keep reading to learn more about umbrella insurance in Florida.
What Is Umbrella Insurance?
An umbrella insurance policy is designed to cover expenses that other policies might not cover. Each type of insurance policy will limit how much it will pay out in a claim event. If that amount is exhausted, but there are still expenses to be paid, those expenses would need to come out of your pocket. This can cause financial hardship for families.
If you purchase an umbrella policy, it will safeguard you against these types of expenses.
Who Needs An Umbrella Policy?
Anyone can benefit from this type of insurance coverage, but it is highly recommended for those with a great deal of savings or assets they would like to protect. Should you be held liable for further expenses, your savings, investments, and properties could be at risk.
This type of policy is also recommended for people in professions at high risk for liability. This can include medical professionals, event property owners, and other professions.
How Much Coverage Do I Need?
Everyone's needs will be different, so insurance is never really a one size fits all product. To understand how much coverage you would need, you should talk with an insurance representative. This professional can help you evaluate your current policies. They will be able to advise you on how much umbrella coverage you would benefit from. They will also be able to assess your liability risks.
If you want to learn more about umbrella insurance or our other products, don't hesitate to contact us at Abney Insurance, serving Oakland, FL.