Why do I need an umbrella policy

Living in Spokane, WA, you know the benefit of an umbrella when it rains. An umbrella insurance policy does for your assets what an umbrella does for your hair and clothes, it protects them. Western Insurance Associates has a knowledgeable staff to explain the benefits of an umbrella insurance policy and why everyone with any assets needs one.

You need an umbrella policy if you own a home or a car. An umbrella policy is additional liability coverage above and beyond what is provided by the liability portion of your home or auto insurance. Liability coverage may be something that you don’t think a lot about but it is important. It protects you against lawsuits that may be filed against you. If you are in an automobile accident or someone is hurt at your home you can be sued for damages and medical expenses. Owning a dog is also something that makes an umbrella policy a good idea. 

Not only would these types of events result in legal fees but it can also involve a judgment against you. Judgments can be very high and if they exceed the liability on your policy, you are responsible for the additional amount unless you have umbrella insurance. Typically umbrella insurance is between one and five million dollars. If you don’t have umbrella insurance, you could be forced to sell your assets and your wages could be garnished for years to come. A horrible prospect to consider. 

An umbrella policy can give you peace of mind. If you have assets, it is something that you really need to consider. Why not call our office in Spokane, WA and talk to the experienced team at Western Insurance Associates about what umbrella insurance can do for you. You will be surprised at how affordable this important coverage is. 


3 Tips for Buying Umbrella Insurance in Spokane, WA

Umbrella insurance is extra coverage you can add to your existing insurance policies. For example, you can add umbrella insurance to your homeowners insurance to cover any events that your policy may not cover. If you have a dog, for example, and it bites a neighborhood kid, the parents may decide to sue. Rather than dip into your savings or 401k for funds to cover litigation, you can use your umbrella insurance to help cover costs. This is just one of many scenarios that could happen unexpectedly and for which you will be grateful to have umbrella insurance. To learn more about acquiring this all-important policy and save money in the process, keep reading. 

1. Compare Quotes

When shopping for an insurance policy, it’s vital to compare several quotes. This way, you can find the best coverage for your particular needs. The team at Western Insurance Associates will help you comb over each quote and find the right one at the right price.

2. Bundle Your Policies

An easy way to save money on a new umbrella insurance policy is to bundle it with your other policies. You probably have auto insurance, life insurance, and homeowners insurance. When you bundle all your policies under one insurance company they will reward you with lower premiums.

3. Work with a Reputable Agent

Agents know the insurance business. They are able to point out differences in policies and help you find the best price for your needs. Working with a reputable agent will guarantee you get the best umbrella insurance policy.

To learn more about umbrella insurance, contact the team at Western Insurance Associates, serving the Spokane, WA area.