Personal umbrella insurance

Should You Consider Personal Umbrella Insurance?

Many consumers believe that since they have home, health, auto and life insurance, they don’t need to carry personal umbrella insurance. However, in the event that you are involved in an accident that is your fault, you may be placed in a scenario where your current coverage just isn’t enough.

You need to have back up protection in the event of the unthinkable. Living in a litigious society has made having personal umbrella insurance almost a necessity.

But how do you know if you truly need personal umbrella coverage? The best way is to do the math and crunch the numbers:

Calculate your assets: review your valuable assets by calculating the worth of your home, how much money you have in the bank, including stocks, bonds, securities, 401k and and other assets

Review your current liability coverage: review your home and vehicle insurance policies and check their maximum liability coverage

Make a comparison between your current coverage and your total assets: you want to ensure that your assets do not exceed the amount of coverage you possess.

If your current policies provide you with less coverage than your current asset base you should consider adding personal umbrella.

What Does Personal Umbrella Insurance Cover?

It’s important to know what personal umbrella coverage includes if you’ve determined that you are in a vulnerable position:

Personal claims: protection against claims of libel, slander and unlawful detention

Defense costs: costs incurred should you need a lawyer if a liability claim is brought against you

Additional liability coverage for your home, automobile, watercraft or other personal vehicles

If you still have questions and may not be completely sure if a personal umbrella policy is right for you, contact the Nowell Agency for answers. Our personal umbrella underwriters have been working with individuals like you in Alabama and Mississippi for over 25 years, customizing policies to meet specific needs.

Testimonials

The Nowell Agency has been my primary agent for many years and they are attentive, well-staffed, and easy to talk to. Their agency has helped me through state to state moves and career change and kept my assets covered.

James G.

My very first insurance experience was when I bought my first house and I called the Nowell agency for a quote. I had no idea what I needed or how much and they were so very kind and knowledgeable and explained everything to me in detail which I so much appreciated. That has been 4 years ago and im still a customer never plan to leave.

Ashleigh D.

I have been very pleased with the quick and professional service by the Nowell agency. My agent was very efficient at locating a policy that met my needs and budget. Thank you to Kristy and the Nowell agency for providing me with fantastic customer service. I highly recommend this agency. You will not be disappointed.

Tripp W.

Cybersecurity Tips for Online Shopping

By Insurance In Mississippi

December 08, 2022

It’s the most wonderful time of the year to shop for your loved ones and the ever-increasing trend is online shopping. However, it’s important to remember that online holiday shopping can also expose your data to potential cyber threats. Experian reports that 43% of identity thefts occur while holiday shopping online. Thankfully, there are steps […]