When should I have umbrella insurance in Astoria, OR

Umbrella insurance may not be the type of insurance plan that most people recognized, but it certainly has nothing to do with rain or umbrellas. It is actually for people that want extended insurance coverage for limits that are not covered by current insurance policies. If you are considering umbrella insurance and you are from the Astoria, OR, Linda Dugan Insurance may have exactly what you need.

Are you worth it?

In most cases, umbrella insurance is useful for high-net-worth individuals that desire coverage that is much higher than the norm. It is also for people that have the potential to lose a lot of money and assets if there is ever a lawsuit. One must consider what they do with their property, how many people they interact with or do business with, and the specific risks that their lifestyle holds.

What if I don’t have any assets?

If you are in a position that the judge awards a significant amount of money against your favor, it won’t matter what you currently have. A judgment against you may eat your future paychecks and assets until the amount is paid off. This can even affect your non-liquid investments. If you believe that you have a lifestyle in which such a thing is possible, you can still benefit from umbrella insurance.

In any case, the need to have umbrella insurance is such a dynamic matter that must be assessed for each individual. If you live in the Astoria, OR area and you have an interest in umbrella insurance, it is a wise idea to consult with Linda Dugan Insurance.