Umbrella Insurance
Life can be unpredictable, and sometimes, the standard coverage from your insurance policies may not be enough. That’s where umbrella insurance steps in—a vital safety net that provides additional liability coverage beyond the limits of your existing insurance policies.
What Is Umbrella Insurance?
Umbrella insurance is a type of liability insurance designed to protect you from major claims and lawsuits. It acts as a safeguard by covering costs that exceed the limits of your primary policies, such as home, auto, or boat insurance.
What Does Umbrella Insurance Cover?
Bodily Injury Liability: Covers medical expenses and liability claims resulting from injuries caused to others, such as in car accidents or slip-and-fall incidents on your property.
Property Damage Liability: Protects against damage caused to someone else’s property. For example, if you accidentally damage a neighbor's fence or their car, umbrella insurance can help.
Legal Costs: Provides coverage for legal fees if you’re sued for damages that go beyond your standard insurance.
Personal Liability Claims: Offers protection for situations like libel, slander, or other claims that could lead to a lawsuit.
Why Is Umbrella Insurance Important?
Comprehensive Coverage: It covers incidents that standard insurance policies may exclude, such as lawsuits for defamation of character.
Higher Liability Limits: Umbrella insurance ensures you’re not financially devastated by claims or lawsuits that surpass your regular policy limits.
Affordable Peace of Mind: Compared to the protection it provides, umbrella insurance is surprisingly affordable.
Asset Protection: If your liability exceeds your primary coverage, your assets could be at risk. Umbrella insurance safeguards your savings, home, and other investments.
What Should You Review in an Umbrella Policy?
Coverage Limits: Ensure the limits align with your financial assets and risks.
Policy Exclusions: Understand what isn’t covered, such as specific business-related liabilities.
Primary Policy Requirements: Confirm the minimum liability limits needed on your auto or home policies to qualify for umbrella insurance.
Cost of Coverage: Review the premiums and weigh them against the additional protection provided.
Protect Yourself with BIS Improved Insurance Agency
At BIS Improved Insurance Agency, we understand the value of protecting what matters most. Our team specializes in tailoring insurance solutions to meet your unique needs. Let’s discuss how umbrella insurance can safeguard your future.
Give us a call today to learn more or to get started! Protect your assets and gain peace of mind with BIS Improved Insurance Agency. 973-683-1000