Can individuals get umbrella insurance, or just businesses?

Who Needs Umbrella Insurance?

If you live in Coppell, TX, you get to enjoy all the area has to offer, and you may think, as many do, that you never want to live anywhere else. But sometimes bad things happen even in Coppell, TX, and you may be wondering if you and your family have enough protection in case of a small or large disaster.

At The Select Insurance Agency, we assist both businesses and individuals in finding umbrella insurance policies that can provide that peace of mind.

What Is an Umbrella Policy?

An umbrella policy is basically extra liability coverage that goes far beyond that of a traditional policy. Even though umbrella insurance is surprisingly inexpensive, it can offer a great deal of protection. Umbrella policies usually start out with a one million dollar limit.

That may seem like a lot, but you would be grateful to have it when you did need it. Your umbrella policy won’t kick in until your traditional policy has hit its limit, and your umbrella policy starts paying to immediately bridge that coverage.

How Umbrella Insurance Helps

So, for instance, say that you are in an automobile accident and it is determined that you were at fault. There were only two vehicles involved, but the other driver’s brand new car was totaled and the passenger spent a month recovering in the hospital.

Typical auto insurance policy limits won’t come close to covering that amount of property damage and injury. If you have an umbrella policy, though, it will kick in and start paying out when you max out.

Paying for even one small disaster out of pocket could cause a great deal of financial hardship, but you can save yourself the worry if you know you have umbrella insurance. If you have any questions about umbrella insurance or if you just want to discuss your current policies, please feel free to call  The Select Insurance Agency today.

You’re Never Too Young for Life Insurance

When you’re young, you feel indestructible. Why would an immortal need life insurance? While life is still very much an open book in your younger years, there are some important reasons to start building your life insurance safety net as early as possible. Here are some of the reasons why young adults and guardians of minor children in the Coppell, TX area should consider working with the Select Insurance Agency for life insurance policies.

  • Lock in low rates. Young adults are typically at their healthiest. This means insurance agents are likely to offer them far lower rates than their older and less well-maintained counterparts. Starting a life insurance policy in your younger days often means lower premiums throughout your contract’s lifespan.
  • Whole life policies build cash value over time. By starting a whole life policy early in life, subscribers can slowly build a cash reserve that can be used to buy property, fund their education, start a business, or other finance a brighter future.
  • When you live life to the fullest, you’re more likely to encounter dangerous circumstances. Term life policies are a great way to ensure financial viability for active youngsters who enjoy high-risk activities like snowboarding, frequent foreign travel, other physically risky yet fun behaviors.
  • Dependents aren’t just children. For many young people, their parents are part of their financial concerns. Your life insurance policy could provide necessary funds to your older dependents in case you can’t work.
  • As you age, a combination of genetics, life choices, and complete accident can affect your ability to get the right coverage. Secure your life insurance policies now to ensure you can get the coverage you need.

Find the right life insurance coverage for your Coppell, TX lifestyle at the Select Insurance Agency.