Umbrella insurance is a type of liability insurance that provides additional coverage over and above your homeowner's or auto insurance policy. This extra layer of protection can be a lifesaver in the event of an unexpected liability lawsuit. If you live in Colorado Springs, you may be considering purchasing an umbrella insurance policy.
To help you make an informed decision, here are the key considerations to keep in mind when shopping for umbrella insurance in Colorado Springs.
Determine Your Umbrella Insurance Coverage Needs
Before you start shopping for umbrella insurance, it's important to determine your coverage needs. This involves reviewing your current insurance policies, identifying any potential liabilities, and determining the amount of coverage you need. For example, if you have a pool in your backyard, you may need more coverage than someone who doesn't. If you're not sure what your coverage needs are, it's best to consult with a licensed insurance professional who can help you assess your risk and recommend the appropriate amount of coverage.
Evaluate Your Current Insurance Policies
It's also important to evaluate your current insurance policies to ensure they provide adequate coverage. For example, if you have a high-value home or a large investment portfolio, you may need more coverage than someone who doesn't. Reviewing your insurance policies will also give you a better understanding of what's covered and what's not, so you know what gaps in coverage you need to fill with an umbrella insurance policy.
Consider Your Budget For Umbrella Insurance
When shopping for umbrella insurance, it's important to consider your budget. Umbrella insurance policies typically come with a premium, which is the amount you pay for the coverage. The premium for an umbrella insurance policy can vary depending on the amount of coverage you need and the insurance company you choose. Be sure to compare quotes from several insurance companies to find the best coverage at a price you can afford.
Look for an Insurance Company with a Strong Reputation
When shopping for umbrella insurance, it's important to look for an insurance company with a strong reputation. EJC has a history of working with insurance companies that handle claims fairly and promptly.
Choose an Insurance Company with a Local Presence
If you live in Colorado Springs, it's important to choose an insurance company with a local presence. Having a local insurance agent means you can get the personalized service and support you need when you have a claim. A local insurance agent can also provide you with important information about insurance laws and regulations in your state, which can help you make an informed decision when shopping for umbrella insurance.
Consider Working with a Trusted Insurance Agency
If you're not sure where to start when shopping for umbrella insurance, consider working with a trusted umbrella insurance specialist. An insurance specialist can help you evaluate your insurance needs, compare quotes from several insurance companies, and recommend the best policy for your needs. A trusted insurance agency can also help you navigate the claims process if you ever need to file a claim.
At EJC Insurance and Financial, we understand the importance of having the right insurance coverage. We are a local insurance agency based in Colorado Springs, and we have years of experience helping our clients find the insurance coverage they need at a price they can afford.
EJC Insurance and Financial is the only local agency to be voted 2022’s the Best of the Springs in the Gazette. Whether you're shopping for umbrella insurance or any other type of insurance, we can help you find the coverage you need. Contact us today to schedule a consultation and start shopping for the best umbrella insurance policy for your needs.
