Three Reasons to Acquire an Umbrella Insurance Policy as a Homeowner

The Catawba River Insurance Group • March 15, 2024

Becoming a homeowner is a major milestone that signifies financial responsibility. And part of that responsibility is making sure your largest asset is properly protected. Most homeowners carry adequate home and auto insurance policies to cover damages and theft to their property. However, there are certain liability risks that standard policies don’t address fully.

An umbrella insurance policy is designed specifically to provide additional liability protection above and beyond your existing policies. It kicks in where your homeowners’ or auto insurance policies can’t, providing an extra level of security. Here are three key reasons why you should invest in an umbrella insurance policy :

  1. The Value of Your Assets is More than the Maximum Coverage. Most homeowners’ policies top out at a certain value in liability coverage. If your property and valuables exceed this value, that limit can quickly be exhausted. An umbrella insurance policy provides additional coverage to better match the total assets at risk.
  2. Future Assets Won’t be Covered Under the Existing Policy. As you make additional investments in your property over time, your liability coverage needs grow as well. One easy way to do this is to take out an umbrella insurance policy. It can adjust depending on the value of your future assets, thus protecting them without having to update your other policies.
  3. Risk of Injury on Your Property. If other people are injured on your property due to swimming pools, trampolines, or incidents with aggressive pets, you may be personally liable. Umbrella coverage offers supplementary protection in these scenarios, which your homeowners’ insurance may not sufficiently address on its own.

At The Catawba River Insurance Group, we would like to help you secure an affordable umbrella insurance policy with excellent coverage for the things you value. Contact us today to get started.

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