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Is an Umbrella Insurance Policy the Right Move for Your Finances?

Umbrella insurance policy

Your home insurance, auto insurance, and commercial insurance policies form the foundation of your financial protection strategy. Sometimes, however, these contracts may not be enough to fully cover your assets. An umbrella policy from Aspen Gold Insurance Brokers is the best way to add extra coverage to all aspects of your financial life. How can you be sure an umbrella policy is right for you?

  • You recently invested in a business. Starting or expanding your business leaves you vulnerable to cash flow problems. If a covered event triggers your commercial insurance policy, your payout may not be enough to help you pay off loans for new equipment and necessary replacements. An umbrella policy would give you extra cash to help cover other related expenses.
  • You have very little personal savings. If your emergency fund is a little light, an umbrella policy can help you take care of expenses that aren’t covered by the payouts from your auto or home insurance policy. Even if your savings account is full, it’s a good idea to use the money from your umbrella policy and protect your nest egg.
  • You work with the public in a professional capacity. Providing personal services to the public leaves you open to potentially expensive litigations. A professional liability plan helps you pay for lawyers and other court-related costs. However, an umbrella policy ensures that you never lack the funds you need for a proper defense.

An umbrella insurance policy is a low-cost protection plan that can be applied to every aspect of your insurance portfolio. The experts at Aspen Gold Insurance Brokers can help you customize a personal or commercial umbrella insurance policy that perfectly fits your Colorado lifestyle.