Most retirees spend a lifetime saving money for their retirement, so they don’t have to worry about finances as seniors. During retirement, you want to spend your time with your family, on hobbies, and other activities you enjoy rather than worry about money. Unfortunately, many seniors are unaware of umbrella insurance as an affordable means of protecting their assets and keeping life worry-free. Whether you have already retired or expect to be soon, contact the Steiner Insurance Group team serving the Nashville, NC, area to understand how umbrella insurance can benefit you.
How Umbrella Insurance Benefits Retirees
Accidents occur regardless of how careful we are, which can leave us financially responsible for the damage. We have home, auto, and other insurance policies to cover our potential liabilities, but some accidents can result in damages that exceed our policy limits. While such accidents are infrequent, they can be financially devastating since you remain responsible for the difference. Ultimately, the situation can put your home and other investments at risk.
Serious accidents are particularly troubling for seniors who are past their top earning years and not in a position to rebuild their assets. Thankfully, there are few significant accidents that require umbrella insurance to activate, so umbrella policies are relatively cheap. They typically cost $150- $300 per year for $1 million in coverage. While umbrella policies cost money, they provide peace of mind, knowing that you have an extra blanket of protection for yourself and your family.
Working With Steiner Insurance Group
Umbrella insurance is an affordable way to protect your family and assets against unforeseen events. If you live in or near Nashville, NC, consider the Steiner Insurance Group team. Stop by the office or call (440) 946-2040 to discuss the benefits of umbrella insurance.
