How Does Umbrella Insurance Benefit Retirees?

Ideally, one benefit of retirement is the ability to focus on family, hobbies, and other activities without worrying about money. One way to protect yourself and limit your money worries is to obtain umbrella insurance covering your accumulated assets. Whether you are retired or not, our team at Old Pueblo Insurance, serving Oro Valley, AZ, will help you understand the benefits of umbrella insurance for people of all ages.

How Umbrella Insurance Benefits Retirees

Insurance protects against the unexpected. Accidents can leave us liable for damages, regardless of how careful we are. While our home and auto policies cover us in most instances, the damages sometimes exceed the limits of our home or auto policy. When those situations occur, you become responsible for paying the difference between the policy limit and the total damage, putting your savings, home, and other assets at risk.

While such situations are a problem regardless of age, most retirees are beyond their peak earning years and find it difficult to rebuild their financial freedom.

Umbrella insurance solves the problem because it sits atop your other policies and pays out only when you exceed their limits. People with umbrella policies often do not make a claim on those policies because the policy comes into play only when the worst happens. The low number of claims means umbrella policies are relatively inexpensive, yet they offer extra protection that offers retirees peace of mind, knowing they are protected from certain harms.

Working With Old Pueblo Insurance

Umbrella insurance is a low-cost means to protect your family and your assets. If you live in or near Oro Valley, AZ, stop in or call the team at Old Pueblo Insurance today to discuss how you can benefit from owning an umbrella insurance policy.