Why Parents of Teen Drivers Should Have an Umbrella Policy

When it has taken you a lifetime to assemble assets and attain your financial goals, the last thing you want is to see all those assets consumed by a lawsuit. Although accidents occur daily, parents become more at risk when their teenagers start driving, particularly in today’s lawsuit environment.

Many parents in Fort Myers, FL, may either be ignorant or deficient of the fact that if their teen is not yet of age of maturity (at least 18), then all the liability for damages caused by any accident falls on them. In fact, young drivers make up over 30% of vehicle accidents that result in injury. This is why SWFL Insurance Agency Inc. encourages parents to take a second look at their insurance coverage and decide whether an umbrella insurance is necessary.

As a resident of Fort Myers, FL, an umbrella policy will add an extra layer of insurance protection over your auto or homeowners insurance. Specifically, an umbrella insurance protects your personal assets in an event that a major claim surpasses the coverage limits of your other insurance policies cover.

How Much Coverage Do I Need on My Umbrella Insurance?
Your umbrella insurance will vary depending on numerous factors. SWFL Insurance Agency Inc. presents you with various options that are best suited different types of situations. Your initial step should be to assess your current policy and see how much coverage you have. The next step will be to search for information on the maximum liability your insurer will cover, and then consider how much more coverage you require to be on the safer side.

Alternatively, you can contact Fort Myers, FL, SWFL Insurance Agency Inc.  to quickly and easily explain the varied options to you, including their benefits and challenges.