You’ve probably heard of umbrella insurance, but you may be questioning its necessity in your life. Umbrella insurance offers additional protection for you and your family in today’s litigious society. The Merhar Agency LLC, located in Willoughby, OH, offers umbrella insurance policies to meet your specific needs.
What are Your Assets?
If you have $1 million or more in assets, it’s recommended to have an umbrella policy. Standard coverage limits on your home and auto policy may not be sufficient to cover a catastrophic liability claim. If a judgment is made against you, you risk losing the assets which you have worked tirelessly to acquire.
An umbrella policy provides protection for your assets and safeguards your financial stability.
Do You Have Dependents?
An umbrella policy becomes even more critical if you have dependents. It’s important to ensure the financial security of your loved ones should anything happen to you. By making this decision, you can leave your children and dependents in a stable financial position, but remember, your decisions affect your entire family, so choose wisely.
Do You Have Excess Risk?
Accidents that lead to major liability claims can happen to anyone. However, certain circumstances make you more susceptible.
Items on your property, such as a swimming pool or a trampoline, can increase your risk. Owning dogs, particularly large breeds, can pose a higher liability risk. Enjoying entertaining and inviting guests into your home can also result in potential liability claims.
Do You Want to Protect Your Financial Future?
Lastly, it would be best if you considered your financial future. A judgment against you can affect your future earnings and assets. In some cases, your future earnings could be garnished until the claim is paid in full. An umbrella policy provides additional protection, securing your and your family’s financial future.
Umbrella Insurance at The Merhar Agency LLC
If you’re considering umbrella insurance in Willoughby, OH, don’t hesitate to contact The Merhar Agency LLC. Our experts are ready and happy to help you select the best policy for your unique requirements and situation.
