Insure yourself against uncertainty and future complications with home and auto policies from Lonergan Insurance Agency. These policies will contain some liability insurance in case you’re involved in a car accident where someone else is injured or a person is injured in your home or on your property. If their injuries require medical attention (e.g. emergency room visits, surgeries, etc.), then the amount of liability coverage in your home or auto policy may not pay all of the damage-related expenses. To protect your assets, we recommend buying an umbrella insurance policy from Lonergan Insurance Agency. This will increase your coverage limits for home and auto in the event of a lawsuit. Once expenses surpass the amount of liability coverage in your standard auto and home policies, your umbrella policy could pay damage-related expenses up to the policy’s limit.
Life insurance protects your loved ones should you pass away. Whether you’re a parent or live alone, a life insurance policy will benefit the people you specify in your policy if you pass away. Depending on the stipulations of your policy, benefactors may receive a set amount or predetermined portion or factor of your annual salary. Parents can opt for a wide variety of conditions in their life insurance policies. If you have children and a mortgage on a home, you can select a policy that could pay monthly mortgage payments and annual tuition checks. This will allow your family to maintain some level of normalcy during their time of hardship.
If the value of your assets is higher than the amount of liability coverage in your vehicle or homeowner’s policies, an umbrella policy could cover expenses for damages that exceed basic coverage. Besides your primary residence, your umbrella policy could protect other assets like college and retirement savings, vacation homes, and certain financial investments.
Umbrella policies are fairly inexpensive and you can choose exactly how much coverage you’d like so if you’re unsure about whether you need one, speak with one of our agent about your exposures.