Is umbrella insurance forever? It’s a question our Bellevue, WA insurance professionals are sometimes asked.
This is your inside guide from Securum LLC to the temporal limits of an umbrella insurance policy.
Read the Small Print of Your Policy
Take a close look at the language of your umbrella insurance policy and you’ll find it doesn’t last forever. Umbrella insurance lasts a set length of time. It is up to you, the policyholder, to know the policy’s expiration date.
Ideally, you’ll write down your umbrella insurance policy’s expiration date on your home calendar. This way, you’ll be aware when the policy is set to expire. It is in the months leading up to expiration that you can determine whether you would like to renew the policy.
Additional options include upgrading and downgrading coverage. You are also free to cancel the policy at the term’s end.
Ask Your Insurer for the Details
If you aren’t sure as to whether your umbrella insurance policy lasts a full year or longer, be proactive. Communicate with your insurer to obtain all the important details. You’ll likely find most such umbrella insurance policies typically last a full year.
Find out the length of the umbrella insurance policy’s protection including the all-important expiration date and plan accordingly. Keep in mind, it is not guaranteed that the insurer will restart the same policy or a similar policy in the event that you fail to renew coverage.
Securum LLC is at Your Service
If you live in the greater Bellevue, WA area, you are within our service range. Dial 206-315-7984 today to learn more about umbrella insurance options.
