Anyone who owns a home or a car is likely to have some form of insurance, but umbrella insurance is often overlooked. Umbrella insurance is designed to provide additional coverage in the event of a lawsuit, and it can be a valuable asset for anyone with significant assets or income. TAS Insurance Agency in Phillipsburg, NJ provides this guide on navigating this coverage.
Here are five reasons why you should consider umbrella insurance:
1. Coverage Beyond Your Existing Policy
Your existing insurance policy is likely to have limits on the amount of coverage it provides. For example, most homeowners’ insurance policies have limits on the amount of coverage they provide for liability. Umbrella insurance can provide additional coverage beyond those limits, which can be important if you are sued.
2. Protection Against Lawsuits
Umbrella insurance can help protect you from lawsuits. If you are sued and found liable for damages, your umbrella policy can help cover the costs of the lawsuit, including legal fees.
3. Asset Protection
Regardless of the size of your assets, you could be at risk if you are sued. If you have significant assets, such as a home or investment property, umbrella insurance can help protect those assets.
4. Peace of Mind
You never know about the future, and you never know when you might be sued. Having umbrella insurance can give you peace of mind knowing that you have additional coverage in the event something happens. Not only can it help you financially, but it can also help you emotionally.
5. Affordable Coverage
While you might think umbrella insurance is expensive, it can actually be very affordable. The cost of umbrella insurance depends on various factors, including the amount of coverage you need and the assets you want to protect. However, even a small policy can provide a significant amount of coverage. But regardless of how much you pay for your policy, the peace of mind it can provide is priceless.
Get Umbrella Insurance in Phillipsburg, NJ
Umbrella insurance is a great option if you’re looking for additional protection beyond your existing insurance policy. It can help protect you from lawsuits, safeguard your assets, and provide peace of mind. TAS Insurance Agency can help you find the right Umbrella insurance policy for your needs. Contact us today to get started.