Umbrella insurance in West Virginia

Umbrella insurance is quite often misunderstood, but it is actually very simple to understand. In order to be clear about the concept, consider this: You know it is supposed to rain today, so you put on your raincoat and rain boots. These would be your regular insurance policies. Though you are covered, you take your umbrella, as well, just as a precaution in case the weather is worse in Barboursville, WV than the weather report states.

This extra coverage is your umbrella insurance. It is precautionary supplemental insurance just in case an incident is more than your regular policies will cover. For help in determining if you have any gaps in your current policies, Partners Insurance & Financial Services Inc. would love to help you out.

How do you know if you need umbrella insurance?

Umbrella insurance is never a bad idea, but some people will need it more than others due to what they could lose. Umbrella insurance is especially important for West Virginia residents that have a lot of assets, including but not limited to:

• Equity in your home
• Investments
• Retirement funds
• Real Estate- especially investment properties
• Ownership in a business
• Play or coach any sports
• Have children
• Have outdoor dogs
• Have a swimming pool or trampoline
• Participate in activities such as skiing, surfing, hunting, or any other that might lead to injury to another party

If you have assets such as these, umbrella coverage will help ensure you keep those assets in case of a lawsuit. For instance, imagine you were involved in an auto accident on the West Virginia streets. The accident adds up to more damage than your regular auto policy covers. One of two things could happen: you could lose your assets until the damage is covered, or your umbrella insurance could cover the additional costs and you could keep your assets.

If you are in the Barboursville, WV area, give Partners Insurance & Financial Services Inc. a call or stop by today for your free, no-obligation quote.