Unfortunately, anyone who drives is at risk of having an accident with an uninsured car. The Insurance Research Council says one in every seven drivers on the road does not have car insurance! Should an accident involving an uninsured driver occur, umbrella insurance will cover medical costs and pay for the excess fees after the primary auto insurance policy has been exhausted.
2. You have a savings account
In today’s world, the threat of a law suit is everywhere. From social media to incidents in the workplace, vulnerabilities are endless! Should you be involved in a large lawsuit leaving you liable for hundreds of thousands of dollars, umbrella insurance is your saving grace. In this instance having umbrella insurance could mean protecting not only your hard-earned savings, but your valued possessions and lifestyle.
3. You were required to purchase other forms of insurance
When disaster strikes, umbrella insurance really is the catch-all for protecting what you care about most. While other insurance policies may be required through a mortgage company or a landlord, umbrella insurance is not. However, this doesn’t make it any less important. By purchasing only the bare minimum required for insurance across the board, you are at risk for losing much more by not having umbrella insurance in place.
To learn more about acquiring umbrella insurance and protecting your lifestyle and livelihood, click here!