The amount of umbrella insurance coverage you need depends on multiple factors, including the value of your assets and the risks you take each day.
If you are unsure how much insurance to purchase or want clarification on when coverage fits your needs, turn to Smoller Insurance Agency. We help people in Boston, MA, and the surrounding area secure the umbrella insurance they need.
Consider Your Assets
To determine the right amount of coverage for your situation, consider the total value of your assets. Add up assets such as home equity, savings accounts, investments, and other valuables you own. If someone were to seek legal action against you, these assets are at risk.
Determine the Risks You Face
Your liability insurance needs to match the risks you face. If you own rental property, own a business, or host events in your home that could lead to liability, having more insurance is beneficial. Think about the risks you face of a personal lawsuit. Could you face a lawsuit or judgment against you for your hobbies, investments, or business decisions?
Use this information to get a better idea of what your risks are and how much you stand to lose. Work with an insurance agent to determine what amount of coverage could be best suited for your situation. Having enough coverage is important, but there’s no value in having more than you need, either. That’s why a personalized consultation is helpful when making financial decisions.
Set Up a Consultation To Learn More
You can count on Smoller Insurance Agency, serving Boston, MA, to help you choose the right amount of umbrella insurance for your situation. Contact us to learn more about your risks, assets, and how we can help you protect your financial assets.
