You have heard about umbrella insurance, but do you know what it covers? Whether you have heard of or are hearing about umbrella insurance for the first time, TAS Insurance Agency is here to help you see how this coverage can protect you.
What is umbrella insurance?
It’s the safety net you can run to when your typical insurance coverage runs out. Your home insurance covers your dwelling, for instance, when a fire damages your house. While home insurance covers your asset, there is something called lawsuits. Assume a guest slips and injures their head in your bathtub. You could be sued.
Although your home insurance has liability coverage, it can only do so much when faced with substantial claims. In such instances, it’s where umbrella insurance comes into play. Umbrella insurance is the extra liability coverage that takes over from where your boat, auto, or home insurance leaves off.
How does umbrella insurance protect me?
It’s worth noting that umbrella insurance protects you against liability claims from third parties. For instance, if you are involved in a severe auto accident, your auto insurance will cover damages to your car and injuries that you might suffer.
On the other hand, the liability coverage of your auto insurance covers injuries and property damage to the other motorist. However, when the liability claims exceed your auto insurance limit, umbrella insurance takes over. Ultimately, umbrella insurance protects you and your family members in the following areas:
- Property damage caused to others
- Bodily injury to third parties
- Pays for legal costs
- Provides personal liability protection against claims like libel, slander, and malicious prosecution
While you might have heard that umbrella insurance is for the rich and famous, this notion is partly true. Umbrella insurance is suitable for anyone earning a livelihood and has a high chance of being sued.
Get umbrella insurance today in Phillipsburg, NJ!
Are you looking for umbrella insurance in Phillipsburg, NJ? Please look no further than TAS Insurance Agency. Contact us today, and we will help protect your assets.