Today, there are many different types of insurance products available. Understanding how these products work will be vital to getting the best protection possible. At Hinman & Associates Insurance, serving Reno, NV, and the surrounding areas, we want to help educate you on helpful insurance products such as umbrella insurance. Keep reading to find out how umbrella insurance can benefit you.
What Is Umbrella Insurance?
Umbrella insurance is a unique type of insurance product that can help to protect you and your assets if one of your other insurance policies is exhausted. This type of policy can be added to any other kind of policy. If you have a claim event, and the policy is exhausted, and there are still expenses to be paid, the umbrella policy can kick in to cover the difference.
Who Should Buy An Umbrella Policy?
An umbrella policy can benefit anyone who wants to make sure they are fully covered from a claim event. However, this type of policy is especially beneficial to individuals who have large amounts of assets they would like to protect. It is also incredibly beneficial for individuals who operate a business with a high level of liability. If you participate in any activities, hobbies, or ventures which could carry liability, you may want to consider purchasing an umbrella policy.
How Much Coverage Do I Need?
The amount of coverage you should purchase with an umbrella policy will vary greatly depending on your unique risk factors. A knowledgeable insurance agent will be able to discuss amounts with you to get the policy that best fits your situation.
If you would like to learn more about our insurance services and products, don’t hesitate to contact us at Hinman & Associates Insurance serving Reno, NV, and the surrounding areas.