Umbrella insurance is a type of coverage that provides protection for items that your other insurance may miss. The actual word “umbrella” is a description of how this policy is, essentially, a catchall for an array of claim-types.
When you purchase umbrella insurance in Mesa, AZ, it can help you recover from unexplained claims. However, you have to be smart about the purchase to ensure you are making a sound investment. Our team at INW Insurance Group can help, if you need a bit of advice and guidance.
1. Bundle Your Policies
It’s a good idea to see what you are currently covered for and bundle your new umbrella insurance policy with existing policies to save money on your premiums. To determine where you need extra protection, review all your current policies. Most people understand there are certain nuances with their policy, but they don’t know where the exclusions are leaving a gap in their coverage. During this analysis, you can find out about the specific exclusions, which are found at the end of your policy. You can then figure out where you need umbrella insurance to fill the gap.
2. Run a Loss Analysis and Compare Quotes
The loss analysis refers to all the claims you have made to date. You can get this list from your insurance company. By keeping record of your expenses, you can determine what you had to pay out-of-pocket to cover repairs, accidents, and other insurance-related situations. By doing this, you have another opportunity to see where umbrella insurance may be beneficial. After this, compare several policies to find the right one for you
3. Work with a Reputable Agent
Working with a friendly and reputable insurance agent will help you navigate the seas of umbrella insurance by answering all of your questions and concerns.
If you want to know more about umbrella insurance and if you need it, contact our team at INW Insurance Group. We serve the area in and around Mesa, AZ.