Do You Need an Umbrella Policy?

Do You Need an Umbrella Policy?

Owning a home is an integral part of the American dream. If you own one, you must purchase a homeowner’s insurance policy both to safeguard your domestic assets and to protect anyone in and around your home. While general liability insurance in New Mexico is often adequate, some homeowners choose to purchase an umbrella policy for extra protection.

Attractive Nuisances

If you have any attractive nuisances on your property, an umbrella policy might be a good idea. Simply put, attractive nuisances are both inherently dangerous and attractive to visitors, particularly children who might not understand risk. While the list is not exhaustive, the following things generally fall within the category:

  • Swimming pools
  • Trampolines
  • Playground Equipment

Peace of Mind

An umbrella policy supplements other types of insurance. Since it extends limits for bodily harm and property damage, umbrella coverage gives homeowners greater peace of mind. Instead of worrying if you can pay for a catastrophe, you might look into purchasing an umbrella policy.

Industry Expertise

Since you are probably not an insurance expert, you should consider collaborating with a knowledgeable insurance professional to understand your risks as a homeowner. The right agent can advise you on immediate insurance needs and help anticipate future ones.

General liability insurance in New Mexico may be sufficient to protect those who visit your home. If you want additional coverage, an umbrella policy might be a good option.

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