Top Three Reasons to Purchase an Umbrella Insurance Policy

Selecting the right insurance coverage for your personal and professional life can be challenging. High Favor Insurance is dedicated to providing you with the necessary information for making informed insurance decisions. In this piece, we focus on three primary reasons you should consider an umbrella insurance policy.

1. Protect Your Significant Assets

The more assets you possess, the more you risk losing. You can mitigate this risk by protecting your assets with an umbrella insurance policy, which is especially useful if you or your business is sued.

2. Mitigate Potential Income Loss

If you’re self-employed or own a business, it’s common to experience fluctuations in work frequency. An umbrella insurance policy can safeguard against potential income loss in the face of unexpected circumstances.

3. Secure Your Landlord Interests

An umbrella policy is crucial for landlords with rental properties as a source of income. In case of an unforeseen event causing harm to a tenant or their property, you may be held responsible—an umbrella policy offers a security net for such instances.

High Favor Insurance, serving Birmingham, MI, is here for all your insurance needs. Whether you’re contemplating the idea of an umbrella insurance policy or have already decided it’s a necessary step, our team is eager to help. Reach out to us today or stop by our office to learn more.