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Umbrella insurance policies have become quite popular in recent years. These policies can be used to increase or expand coverage for many different events. Ultimately, umbrella insurance policies are crucial because they can mitigate risks. The right policies can increase security and help you enjoy peace of mind. If you’re looking for insurance agents that provide assistance to residents of Surprise, AZ, give Giles & Iten Insurance a call.
Risks Abound, and Standard Coverage Might Not Be Enough
The modern world has so many risks that it can be hard to wrap your mind around them. Hurricanes, tornadoes, hail, and many other weather events seem to be becoming more common and the damage can quickly add up. Your current policy may only cover a limited amount. If someone falls in your home, you may have to be found responsible for paying for their medical care.
You might be targeted by online scammers as well. Consider that while social media makes it easy for people to stay in touch, it’s also used to scam people. According to the FTC, fraudsters using social media to scam people ultimately caused more than $1.4 billion in damages in 2023.
Your current insurance plan may cover the above events. However, some things may not be covered, and you may not even realize it. For example, you may not have adequate coverage for identity theft and cybercrime. Perhaps your policy will provide coverage, but only for a small amount, say $50,000. These days, criminals can sometimes cause far higher losses.
However, you may be able to take out an umbrella insurance policy to provide extra protection for cybercrimes, personal injuries, dog bites, and many other events. Likewise, you might increase coverage for general theft if you have a lot of valuables in your home, like jewelry.
There are many different types of umbrella insurance plans, and what they cover can vary greatly. If you live in or near Surprise, AZ, and want to learn more about umbrella policies, contact Giles & Iten Insurance.
