3 Situations Where Umbrella Insurance Is Necessary

Umbrella insurance is not a requirement, but that does not mean it is never a necessity. In fact, there are many instances in which umbrella insurance could be considered a necessity. Stanley Insurance Group, which serves Hilliard, OH, understands that there are situations where you want to plan ahead. If you are familiar with the need for umbrella insurance in these situations, you can plan ahead efficiently.

You Own Your Home

If you own property, you cannot control exactly what happens there. If you have guests over on a trampoline or in a swimming pool, they could become injured without warning. If you own property, you could be held responsible for these injuries, which could include expenses for medical bills or pain and suffering. Umbrella insurance covers some liability costs.

You Are a Landlord

The same applies if you rent out your property. You do not have much control over what happens on the property, so coverage can help you significantly. You want to make sure you are protected as the owner of the home, especially because your tenant’s renters insurance may not cover everything.

You Have a Young Driver in the Home

If you have a new or young driver on your insurance policy or driving your vehicles, you should consider umbrella insurance. This policy might provide protection if your teenager causes an accident that results in harm to others beyond the coverage your auto liability insurance allows.

Get Umbrella Insurance Today

Do you see yourself getting into any of these situations? Now is a great time to look into your insurance options. Speak with Stanley Insurance Group, a company serving Hilliard, OH, to learn more about umbrella insurance.