Whether you’re a homeowner, a business owner, or investing in a property or a non-profit, it’s crucial to safeguard yourself with suitable insurance policies. For those residing in or near Hutchinson, KS, determining if you need umbrella insurance and what coverage you require is essential. At DJ Kauffman Agency, we’re here to guide you through the process of finding an insurance policy that’s adequate, reliable, and tailored to your needs.

Net Worth Calculations

Before you select an umbrella insurance policy for yourself, your home, or your business, it’s essential to calculate your net worth. This includes adding up your vehicle value, investments, home equity estimate, and any savings or retirement accounts you have. Your umbrella policy should cover your entire net worth, or as close to it as possible.

Evaluating Liability Exposure

The liability exposure you face will vary based on your lifestyle and whether you’re an investor or business owner. Potential risk factors that can influence the type of umbrella insurance policy you choose include homeownership, teen drivers in the home, hosting events, owning rental properties or farms, board membership, and volunteering activities. You’ll want to consider the cost of various types of legal battles and costs to ensure that your umbrella insurance policy is adequate.

When you understand the purpose of umbrella insurance and how to determine your coverage needs, it’s much easier to proceed with selecting a policy that’s right for you and your household. From protecting your home to ensuring your business and its assets are safeguarded year-round, we’ll help you find a policy that’s right for you. Contact DJ Kauffman Agency today to learn more about umbrella insurance coverage that can benefit you and your business or home in Hutchinson, KS.