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When you think of umbrella insurance, homeowners often come to mind, but renters can benefit from it too. Even if you don’t own property, you still face financial risks that could exceed the limits of your standard renters insurance policy. Umbrella insurance provides an added layer of protection, giving you extra peace of mind.
What Umbrella Insurance Covers
Umbrella insurance extends liability protection beyond what’s included in your renters policy. It helps cover large claims or lawsuits involving bodily injury, property damage, or personal liability. For example, if someone slips and falls in your apartment and their medical costs exceed your renters policy limit, umbrella insurance can help pay for the remainder. It can also protect you in cases of libel, slander, or defamation, which are not always covered by basic insurance.
Why Renters Should Consider Umbrella Insurance
If you’re responsible for an accident or damage that affects others, you could be personally sued for thousands of dollars. Your wages, savings, or future earnings could be at risk. Umbrella insurance helps safeguard your financial future by covering costs that go beyond your primary policy limits. It’s especially valuable for renters who entertain guests frequently, own pets, or engage in activities that could increase liability risks.
Affordable Added Protection
Despite its wide coverage, umbrella insurance is surprisingly affordable. it often costs just a few dollars a month for $1 million in protection. It’s an inexpensive way to ensure you’re fully protected from unexpected financial loss, even as a renter.
Talk to Your Insurance Agent
An insurance professional can help you decide how much umbrella coverage makes sense for your situation and ensure it complements your renter’s policy.
Contact Fuhriman Insurance Agency, Serving Boise, ID
At Fuhriuman Insurance Agency, we’re here to meet all of your insurance needs. Contact us to learn more about our Boise, ID, insurance services.