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Real estate is a lucrative investment, but it also comes with a significant amount of risk. Attempting to generate recurring income from rental properties can be challenging if you aren’t safeguarded against unforeseen issues, such as personal injuries on the property, natural disasters, or accidents like fires. You’ve likely already purchased insurance, but will that be enough? What can you further do to protect yourself and your investment? Umbrella insurance is likely what you’ll need to help you maintain your assurance. Discover what umbrella insurance can do for you and how you can get the coverage you require for your business with the team here at Renee Oliver Insurance Agency Inc. in Silver Spring, MD.
Why Should Landlords Have Umbrella Insurance?
Umbrella insurance is not a type of insurance that protects you from anything. Still, rather than supplementary insurance that is designed to offer you coverage should the costs exceed what your original policy is able to cover. Some people may not need umbrella insurance. For example, if you have comprehensive auto coverage for your vehicle, you already have the coverage you need to protect yourself against anything that might happen. But if you’re a landlord with homeowners insurance, you may worry that severe injuries, significant property damage, or other developments could exceed what your policy will pay out. Adding umbrella insurance will help you cover those costs should your fears be realized, protecting your business and allowing you to move forward with ease. If you have property insurance but not umbrella insurance, this is a good reason to invest in the latter.
Protect Yourself With Umbrella Insurance Today
For comprehensive coverage, turn to Renee Oliver Insurance Agency Inc. in Silver Spring, MD. We’ll help you find the right umbrella insurance policy to protect your assets. Contact us today!