What are the Advantages of Umbrella Insurance for Seniors?

Umbrella insurance is an underappreciated approach to protecting the assets that you have built over a lifetime. Yet, by supplementing your home, auto, and other primary insurance policies and covering potential liabilities that exceed these primary policy limits, it offers protection that few seniors with assets can afford to be without. Whether you are a senior today or planning for the future, the team at BES & Associates Insurance, serving Walford, MD, is here to help you understand how umbrella insurance benefits people of all ages.

How Umbrella Insurance Benefits Seniors

Our primary insurance policies protect us from unexpected accidents that leave us liable for damages. Each insurance policy pays for damages up to a set amount or limit. On the rare occasion that liabilities exceed these primary policy limits, you are responsible for paying the difference, which could put your home, savings, and other assets at risk.

This type of situation poses a significant problem for seniors who have accumulated substantial assets and are generally past their peak earning years, making it difficult for them to rebuild their assets. Umbrella insurance counters this problem by covering your primary policies in situations where you exceed their limits. Despite our increasingly litigious society, the average cost of umbrella insurance in Maryland is $16 per month, making it an affordable option for seniors seeking peace of mind through additional protection.

If you seek to protect your assets for your golden years or provide a legacy for others, consider acquiring umbrella insurance as an extra layer of protection.

Working With BES & Associates Insurance

Umbrella insurance is an affordable means of protecting your family and your assets. If you reside in or near Walford, MD, feel free to stop by today or call the team at BES & Associates Insurance at (301) 870-7300 to discuss how umbrella insurance could work to your advantage.