The Importance of Securing Umbrella Insurance

The Importance of Securing Umbrella Insurance

Why you need the supplemental protection offered by umbrella insurance.

With today’s society more litigious than ever, it can seem like anything, and everything leads to a lawsuit.  Unfortunately, if you find yourself on the receiving end of a legal claim, then you may be on the hook for thousands of dollars to cover your legal defense and settlement costs.  While your personal insurance policies, such as your auto and homeowners insurance in Whitestone, New York, offer some personal liability protection, this coverage isn’t always enough.  To ensure that you have enough coverage to address your personal liability risks, you need to secure an umbrella policy.  Here’s what umbrella insurance will do for you.

  • What is Umbrella Insurance?

Umbrella insurance is a supplemental form of insurance that offers personal liability coverage that extends beyond the limits of your other personal policies.  For instance, say that your homeowners insurance policy offers $60,000 in personal liability coverage.  If you have a claim that cost $100,000 to cover, then your home insurance policy can only cover a portion of the cost.  Fortunately, your umbrella insurance will kick in and cover the remaining cost of the claim.  Essentially, umbrella insurance provides backup liability coverage that you can access in the event of a very expensive personal liability claim.

  • Do I Really Need this Coverage?

While umbrella insurance is not a mandatory coverage, everyone can benefit from carrying this special form of insurance.  Because you never know what might trigger a personal liability suit, it’s reassuring to know that you have enough coverage to defend yourself from whatever comes your way.  If you want comprehensive liability protection to protect against all the risks that you face, then securing an umbrella policy is your best bet.

This is why you should consider getting an umbrella policy.  Do you have questions about your personal liability, auto, or homeowners insurance in Whitestone, New York?  If so, then contact the experts at 01 Insurance.  We are ready to assist you with all your personal coverage needs today.