Umbrella insurance offers additional liability coverage for homeowners insurance, auto insurance, and boat/watercraft insurance. It helps to pay for liability claims that exceed the limits of your standard insurance coverage. If you wish to get extra protection for your assets in Fords, NJ, contact Five Star Insurance Agency for umbrella insurance quotes.
Facts About Umbrella Insurance
Umbrella Insurance Covers All Your Assets
Unlike other insurance policies which only cover one asset such as a home, boat, or car, umbrella insurance covers everything. You can think of it as an umbrella which covers not just one part, but the entire body. The policy applies when you exceed the liability limits of other insurance policies. Instead of paying the balance from your pocket, you can claim your umbrella insurance. It also covers you in case of risks that are excluded from other liability policies such as slander.
You Can’t Buy Umbrella Insurance Without Other Policies
Umbrella insurance is a secondary insurance policy that is meant to provide additional protection. This means that you can only use it along with other policies. You cannot substitute your commercial, home, or auto insurance policies for umbrella insurance. Umbrella insurance is a great option if you have valuable assets that need supplemental protection. You can only claim your umbrella insurance after the other insurance policies reach their limit.
Umbrella Insurance Doesn’t Cover Your Property Damage
The purpose of umbrella insurance is to protect you if you are legally liable for property loss or damage, bodily injuries, professional errors and omissions, and malpractice. It does not pay for damages to your own property. Check with your insurer to establish what they cover as a liability.
Contact Five Star Insurance Agency in Fords, NJ to discuss your new quote for umbrella insurance. Our agents can help answer your questions and get you started.