Dear ,

In our ongoing effort to help you protect what matters most, we want to focus on a crucial aspect of personal finance: assessing your need for personal umbrella insurance. Here’s a straightforward guide to help you determine how much coverage you might need:

How to Assess Your Personal Umbrella Insurance Needs

1. Evaluate Your Assets: Calculate the total value of your assets, including your home, savings, investments, and any other valuable property. This will give you a baseline for how much coverage you might need to protect these assets.

2. Assess Your Liability Risks: Consider your lifestyle and activities that could expose you to liability. Ask yourself:

  - Do you own a home or rental property?

  - Do you have a swimming pool, trampoline, or other potentially hazardous features?

  - Do you host gatherings or events frequently?

  - Do you have pets, especially breeds that may be considered high-risk?

3. Review Existing Insurance Policies: Look at the liability limits on your homeowners, auto, and any other relevant insurance policies. Umbrella insurance typically kicks in after these limits are exhausted, so knowing your current coverage is essential.

4. Consider Future Earnings: If you have a high earning potential or are in a profession that could expose you to lawsuits (like healthcare or law), you may want to consider higher coverage limits to protect your future income.

5. Consult with an Insurance Agent: An insurance professional can help you assess your specific situation and recommend appropriate coverage limits based on your assets, risks, and existing policies.

6. Common Coverage Amounts: Umbrella policies typically start at $1 million in coverage, but many people opt for $2 million or more, depending on their risk exposure and asset value.

7. Reassess Regularly: Your needs may change over time due to changes in your assets, lifestyle, or family situation, so it’s a good idea to reassess your coverage periodically.

By following these steps, you can make an informed decision about your personal umbrella insurance coverage. If you have any questions or need assistance, feel free to reach out!

Best regards,

George W. Page Jr