Anyone living in the Clarinda, IA area will want to ensure they have proper personal insurance in place. While there are many important types of coverage to consider getting, umbrella insurance should be on the top of the list for most people. This is an important form of protection that offers support if you are liable for damages in an accident or other situation. 

Benefits of Having Umbrella Insurance

Offers Higher Levels of Protection

Most people in this area of Iowa will have home or auto insurance plans that will give coverage for accidents involving these assets and their use. While these plans will cover most potential accidents, there will always be a chance that an accident could result in higher damages and claims. In these cases, having umbrella coverage is ideal as it will give the additional support that you need on top of these policies. 

Receive Coverage for More Situations

It is also a good idea to obtain umbrella coverage because it can provide coverage for far more situations. Umbrella insurance is very broad and offers support for many claims that could arise that otherwise would not be covered by another insurance plan. This will give you peace of mind as you will know that you are prepared for the unexpected. 

Contact Us Today

If you are in the Clarinda, IA area, it would be a good idea to obtain an umbrella insurance policy. Once you start looking for insurance, you can learn more about your needs and options by calling Sump Insurance. There are various complexities that come with umbrella coverage and calling Sump Insurance can help as they will answer all of your questions and give the support you need to build a plan that will appropriately cover and protect you moving forward. 

Most people are familiar with the basics of insurance: you pay premiums to an insurer in exchange for protection against certain risks. Homeowners insurance, for example, helps to safeguard your home in the event of a fire or other disaster. Auto insurance protects your car against damage or theft. But what about umbrella insurance?

Umbrella insurance is a type of coverage that can provide additional protection against certain risks, over and above what your regular insurance policy covers. But how much umbrella insurance do you need? Sump Insurance in Clarinda, IA can help you navigate this important coverage.

Here are a few factors to consider:

1. The Value of Your Assets

One of the main reasons to carry umbrella insurance is to protect your assets. If you are sued for damages exceeding your regular policy’s coverage limits, umbrella insurance can help cover the costs. So, a key factor in determining how much umbrella insurance you need is the value of your assets. This includes not only your home and car but also other property such as jewelry, art, and collectibles. If you have significant assets, you may want to consider purchasing umbrella insurance with higher coverage limits.

2. Your Exposure to Risk

Another factor to consider when determining how much umbrella insurance to buy is your risk exposure. This includes both the likelihood that you will be sued as well as the number of damages you could be liable for if you are sued. If you have a high-risk job or participate in activities that increase your chances of being sued, umbrella insurance can provide valuable protection.

3. The Coverage Limits of Your Regular Policy

When considering how much umbrella insurance to purchase, you should also look at the coverage limits of your regular policy. If you have a high-deductible policy or only carry minimal coverage, you may want to consider buying umbrella insurance with higher coverage limits. Doing so can help to fill in the gaps and provide additional protection.

Get Umbrella Insurance in Clarinda, IA

Now that you know some of the factors to consider when determining how much umbrella insurance to buy, it’s time to get a quote. Sump Insurance can help you find the right coverage for your needs. Call us today for a free quote.

Umbrella insurance is insurance that goes above and beyond what your typical insurance covers, whether that is your homeowners or business insurance. You may not need any additional insurance, but it doesn’t hurt to check it out. 

So, why would you need umbrella insurance for your business? Sump Insurance in Clarinda, IA provides you with this guide. 

Umbrella Insurance for Your Business: What You Need To Know

Extra liability

If you have customers coming to your business, you are going to want to make sure that your business is protected in case someone gets hurt. Medical bills and lawsuits can ruin a business, so if your business could be dangerous for your customers, you are going to want to make sure that you have umbrella insurance. 

Extra auto coverage

The same could be said of those businesses that have vehicles on the road. Accidents, even small ones, can cost a business a lot of money, so you should make sure that you are fully protected. 

Extra errors and omissions insurance

If your business deals with sensitive information and one mistake could really cost you and your customers, you may want to consider getting extra E & O insurance. This may be essential for people who deal with the paperwork and other important information. 

Umbrella insurance is extra insurance to make sure that you don’t lose your business over a problem. You may want extra liability insurance or auto insurance if you have customers that could get injured on your property. If you are a bookkeeper or someone who deals with sensitive information, you are definitely going to need extra E & O insurance. 

Give Us A Call

If you want to make sure that your business is properly protected, you need to contact us today at Sump Insurance in Clarinda, IA. 

Umbrella insurance is above and beyond what you’ll have on a standard insurance policy. If you are thinking of getting an umbrella insurance policy, there are some things that you should know first. There are some benefits and drawbacks of having this type of insurance that are as follows. 

Pros of Having Umbrella Insurance 

1. It protects the policyholder when it comes to expensive auto or home liability claims. You will pay into this policy on a regular basis and have at least partial coverage for damages and replacement. 

2. The coverage limits often are set at higher amounts. 

3. Umbrella insurance covers those scenarios that do not fall under your average liability insurance. 

4. Your auto or home liability coverage and your umbrella insurance get added together for a combined coverage amount you can use. 

Cons of Having Umbrella Insurance 

1. Insurance agencies will usually offer coverage only to their current auto and home insurance customers. 

2. You will need to have auto or home liability limits that meet the minimum requirements of your insurance provider. 

3. This tends to be useful only for individuals who have a high net worth. 

4. Umbrella insurance doesn’t cover your own property damage or injuries. 

Getting Your Umbrella Insurance Through an Independent Agent 

An independent agent such as those at Sump Insurance of the Clarinda, IA area can help you better understand what you need and what’s involved in each type of umbrella policy we offer. It’s important that you consider all the angles before you make your decision. You can sit down with an agent, reach out to us online, or give us a call with your questions.