How Does Umbrella Insurance Protect Your Assets?

The Perry Insurance Agency in Vernal, UT has got your back to protect you, your family, and your business with umbrella insurance.

Umbrella Insurance To The Rescue

Umbrella Insurance provides coverage after the limits of your home, auto, commercial, or any other insurance policy that has provisions for liability protection for any particular asset, are exhausted. The essential purpose of the umbrella policy is the protection of assets from unforeseen calamities which you may be found liable and have to face a major lawsuit. This can result by merely having a party at your home where you served alcohol and a guest was injured driving home causing severe property damage and extensive bodily injuries.

Costs from catastrophic accidents may be above your policy limits. Umbrella insurance covers events that would be excluded in a homeowner insurance policy such as the legal fees to defend against malicious prosecution, a false arrest and libel, slander, and defamation claims. The whole purpose of umbrella insurance is to escape financial ruin which will be avoided because an umbrella policy could extend the upper limits of your underlying liability policies up to five million dollars.

How Much Is Enough?

Pricing of the policy will be determined by one of our agents. However, the limits, as a rule of thumb are based upon:

  • The risks you may be facing 
  • Present value of your assets
  • Potential future loss of income 

At The Perry Insurance Agency in Vernal, UT, our agents are experts in advising its clients on the importance of umbrella insurance. Please contact us!


What you need to know about life insurance

Educating Yourself On Life Insurance with Perry Insurance Agency

At Perry Insurance Agency, we suggest that everyone should have a life insurance policy. Not just for financial security after you pass, but for emergency circumstances. If you have the right insurance policy, you may be able to borrow money from it to pay for certain circumstances.

With any life insurance policy, you will pay a premium over time. In exchange, a lump sum amount will be paid to a designated beneficiary upon your death. Life insurance can provide a sense of stability for your family members in knowing they will not have any financial responsibilities upon your passing. Any representative of Perry Insurance Agency in Vernal, UT can assist you with finding the right policy after discussing the details.

There are two popular types of policies: Term and Whole.

Term Insurance – Term insurance is typically the most popular policy among younger age groups. This insurance, however, is only in effect for a certain period of time. Term policies can be for 10, 20, or 30 years. Benefits will only be distributed during the time the policy is in effect.

Whole Insurance – Whole, or Universal, insurance is a permanent insurance. The policy is in effect for as long as the premium is paid. This insurance also has an investment or savings component where you can accumulate cash value over the time frame of your policy. This component allows you to borrow money for exigent circumstances.

There is no coverage limit set for life insurance, and the amount can be dependent on whether or not you have dependents. You may need a combination of policies to get the coverage needed to cover you for your lifetime. To assist you in this decision, contact Perry Insurance Agency, serving Vernal, UT and over 24 other states. Reach out to us to start a policy right away.

Important questions to ask your agent before purchasing auto insurance.

A car is a significant financial investment and a valuable asset to get one to work and other necessary activities. It is important for drivers to ask the right questions when purchasing an auto policy to be confident that their auto insurance coverage is adequate.

Do I have enough liability coverage?

This is a critical question to ask your insurance agent. Each state has different requirements for the amount of liability you must carry. However, just because there is a legal limit in place does not mean it is enough protection in the event of a claim. Speak with your agent at Perry Insurance Agency about required limits in the Vernal, UT area to determine an appropriate limit.

Does the policy provide collision coverage for your car?

Many car owners assume that an auto insurance policy will pay for the cost of their vehicle being repaired in the event of an accident. Many policies only pay to fix the other party’s car. If you want to have coverage for your vehicle, speak with your agent about collision coverage.

What happens if I am in an accident with an uninsured motorist?

Unfortunately, there are just too many drivers out there who drive with no insurance or a policy that has less than adequate limits. It is critical to find out how your policy would respond in the event you are in an accident with an uninsured motorist. Ask your agent about an underinsured/uninsured auto policy.

What is the claims process?

In the event of an accident, the last thing you need to be dealing with is trying to navigate a complicated claims process. You will want to make sure your insurer has a convenient way to file a claim. Also, you will want to understand the level of support being provided such as a 24-hour customer service support line.

If you would like to learn more about auto insurance, please reach out to us at Perry Insurance Agency. We proudly serve the Vernal, UT area and over 24 other states.

Do You Need Commercial Insurance if You Work From Home?

These days, more and more people are deciding to work from home. If this applies to you, you may be wondering if you need to invest in commercial insurance. Whether you have your own business at home or you simply work at home for your employer, you want to make sure you are protected. Use these tips from Perry Insurance Agency, serving Vernal, UT, to determine if you need commercial insurance in these cases. 

How do you use your vehicle?

  • If you use your vehicle for commercial purposes for half the time or more, then you may need to get an additional auto insurance policy for commercial use. Your standard policy may not cover you if you are in an accident while using your vehicle for commercial purposes in this type of case. You should check your auto policy to be sure, and if it is not covered, then you should get a commercial policy. 

Do you have equipment or inventory on the site?

  • Commercial insurance can help protect any items that are used for commercial purposes in your home but your home insurance policy or renters insurance policy may not. You will only need to insure the elements that are for commercial use only so you should take inventory of those items. This would include your electronics for business, specialized tools for the business, and even smaller things like your office supplies. If they are only used for commercial purposes, then you can cover them under a commercial insurance plan. 

If you are still unsure about whether or not you need commercial insurance or you would like to learn more about your options, be sure to call Perry Insurance Agency, serving Vernal, UT. They can even run some quotes for you to find a plan that meets your needs and your budget. In another state? Reach out to us to find out what 24 states we provide insurance products too.