Three things you shouldn’t assume about umbrella insurance

Purchasing umbrella insurance could turn out to be one of the best things you ever do to protect your assets. Consumers in Phillipsburg, NJ can purchase umbrella insurance from TAS Insurance Agency. 

Being well-informed is important for making the right decisions about insurance.

Here are three things you should know not to assume when it comes to umbrella insurance:

You’re not rich enough to need umbrella insurance.

Some people associate umbrella insurance with the rich. You might not consider that you have a high enough net worth to be a target for lawsuits.

However, individuals can end up needing to file umbrella insurance claims even if they’re not especially wealthy. It’s always best to protect your hard-earned net worth. 

You don’t need umbrella insurance if you already have auto and home insurance.

Umbrella insurance is not a type of insurance that replaces either auto or home insurance. Rather, umbrella insurance complements these insurance policies by offering added coverage after these policies have reached their maximums.

You actually must have another type of insurance like home or auto insurance in order to take out an umbrella insurance policy to begin with .

No one really needs umbrella insurance.

You might think that umbrella insurance is a type of insurance that people only very rarely file claims on. However, that is not the case. 

Umbrella insurance claims are typically filed to get coverage for lawsuit expenses. You probably know that lawsuits are very common, so umbrella insurance is an important type of insurance to have. 

Give Us A Call

At TAS Insurance Agency, we provide umbrella insurance coverage to consumers in Phillipsburg, NJ. Are you interested in a quote on an umbrella insurance policy? Get in touch with us for more information on our policy offerings.