Umbrella insurance in Collierville, TN provides an extra layer of protection for your assets when your other coverage falls short. It offers additional liability insurance in conjunction with home or auto insurance and can also provide personal liability coverage for high-net-worth individuals. Here are several reasons why you should consider an umbrella insurance policy.
You’re a Target
In today’s world, high-net-worth individuals often face increased scrutiny and are more likely to be targeted with lawsuits. Many people believe that the wealthy have excess money, making them prime targets for legal action. Your financial status can put a target on your back, but umbrella insurance—offered through a company like Brock and Poole Insurance Agency—can help protect your assets from costly lawsuits.
To Save Money
While umbrella insurance requires monthly premiums, it can save you significant money in the long run. These policies often cover legal defense costs if you’re involved in a lawsuit, potentially saving you thousands of dollars. Additionally, umbrella insurance can help pay settlements if the verdict isn’t in your favor, reducing the financial burden.
Asset Protection
High-net-worth individuals have more to lose than others, making asset protection a critical need. Without umbrella insurance, you could face the risk of selling homes, cars, businesses, or other valuable assets to cover lawsuit costs. Many people won’t hesitate to sue, assuming you can afford the financial consequences. Umbrella insurance ensures your assets are safeguarded against these risks.
At Brock and Poole Insurance Agency, we understand the importance of protecting your assets. Our experienced agents will work with you to ensure you have the appropriate coverage. Contact us today to learn more. We proudly serve the Collierville, TN area.
