Three potential financial disasters you can avoid with umbrella insurance

Umbrella insurance gives consumers more peace of mind. Although your home and auto insurance may cover lawsuit costs you face in many cases, these insurance policies have maximum limits. Umbrella insurance covers you if you face a liability situation where you are required to pay more than your home and auto insurance will offer. 

Wayne Realty & Insurance Co Inc. is an insurance provider in Goldsboro, NC offering umbrella insurance coverage. The following are three potential financial disasters you can avoid with umbrella insurance. 

High legal fees that you can’t afford

If you become embroiled in a lawsuit, you will likely have to pay a lot in legal costs to defend yourself. Fortunately, the umbrella insurance coverage will pay for your legal bills if you get involved with a lawsuit resulting from various possible liability issues. 

Loss of retirement savings

Without umbrella insurance coverage, your retirement savings could be at risk. Certain types of retirement savings will not be protected from seizure if you are ordered to pay damages due to a lawsuit. The loss of your retirement savings can delay a comfortable retirement or make you less financially stable once you finally can retire. 

Loss of your assets to cover damages you have to pay to another party

You’ve worked hard to accumulate wealth and assets throughout your life. A liability lawsuit can set you back significantly by leading to a large-scale loss of assets. Umbrella insurance coverage will protect your assets even if you face a costly lawsuit. 

Let us assist you with finding umbrella insurance coverage. Consumers in Goldsboro, NC can protect their finances and avoid financial disasters with umbrella insurance from Wayne Realty & Insurance Co Inc. Contact us for an umbrella insurance policy quote.