Three Reasons to Consider Home Umbrella Insurance

Home umbrella insurance is one of the least understood types of insurance. As such, we at Smart Way Insurance Agency, serving the greater Sandy, UT area, are often asked what this insurance covers and why you should consider purchasing it. Here are three reasons you may want to consider home umbrella insurance. 

Protects You Against Injuries Someone Sustains on Your Property

One of the reasons to consider purchasing a  home umbrella insurance policy is because it protects you against injuries that someone may sustain on your property. If someone slips and falls on your property, they can file a claim against your regular home insurance policy. But, if your policy limits are low, there may not be enough money to cover all of their medical expenses. An umbrella policy kicks in and covers the remaining medical expenses. 

Protects You Against Lawsuits

Another reason to consider home umbrella insurance is that an umbrella policy protects you against lawsuits. If someone sues you for slander or for emotional distress after falling on your property, your home insurance policy will not cover these expenses. But an umbrella policy will. It helps to fill in the gaps left behind by your regular home insurance policy. 

Protects Against Damage You Cause to Someone Else’s Property

The last reason to consider home umbrella insurance is that it helps to protect you against damage that you cause to someone else’s property. Did you accidentally drive your car through a house? Are the repairs more than your auto insurance policy coverages? Then umbrella insurance kicks in to cover the difference. 

Are you ready to learn more about home umbrella insurance or purchase a policy today in the greater Sandy, UT area? Then contact Smart Way Insurance Agency today to get started. 


Kinds of commercial insurance

As a Sandy, UT business owner, you’ve probably heard the term commercial insurance and you likely have a policy. You may not know all the different types of commercial insurance though and this can hurt you because it means you may not carry an insurance your business really needs. In this blog, Smart Way Insurance Agency explains the difference between the types of commercial insurance, including auto, liability, business owner’s policy, etc. to help you determine what you need.

Types of Commercial Policies

Besides addressing general liability needs, some types of commercial policies cover damages to your business, its property and/or specific equipment.

Property insurance covers damages to or loss of personal or real property. Property covers an office fire’s damage.

Boiler and machinery insurance , also known as equipment breakdown insurance, pays for repairs to boilers, equipment and machinery. It also reimburses you for business interruption.

Builder’s risk insurance provides coverage while a building remains under construction.

Business interruption insurance pays your expenses and lost income due to property damage. It reimburses you for the salaries, taxes and rents you paid while closed and the net profits lost.

Crime insurance reimburses you for losses resulting from crimes of property like burglary, robbery and theft.

Debris removal insurance pays for removing debris after a catastrophic event like a windstorm. Debris removal is a requirement before you can begin rebuilding or renovating.

Fidelity bonds insure you for losses from a bonded employee who stole money or property.

Glass insurance pays for repairs to broken plate glass and store windows.

Inland marine insurance pays for the reimbursement of a customer when their items get damaged or destroyed while on your premises or in your care in transit.

Liability insurance pays medical bills and other payments to third parties you injure or who are injured while on your property. Your commercial vehicle insurance covers these liability payments stemming from accidents you cause.

Tenant’s insurance is essentially the renter’s insurance of the commercial world. Most commercial leases require the renter to carry it.

Workers’ compensation insurance is required if you have employees. Each state has its own laws. It covers medical payments to employees who get injured on the job.

Contact Smart Way Insurance Agency of Sandy, UT to learn which commercial insurance options best suit your business. We have help you obtain the coverage you need.