Get More Liability Coverage With Umbrella Insurance

Liability coverage is one of the most important types of insurance coverage that you need. There are a lot of situations in which you may end up owing someone else’s medical bills or other costs. Whether the accident involves your vehicle or takes place in your home, you can be he’d responsible for the costs that follow. You get liability coverage from your auto and home policies, but you’re likely to need more. To get started with umbrella insurance for more liability coverage, call us at TAS Insurance Agency in Phillipsburg, NJ.

More Liability Protection

While you do have some protection against liability in your home and auto policies, it may not be as much as you need. Both your home and auto policies will have a specific amount of liability coverage to give you a layer of protection. The problem is that this may not be enough to pay for an accident that’s serious and very expensive. When you get an umbrella policy, it adds more liability coverage to both policies at once. This gives you better coverage so that insurance can pay for a particularly expensive accident. 

Paying the Overages

With the relatively small amounts of coverage in your home and auto policies, it may not be enough to pay when the cost is high. When you have umbrella insurance, it pays for the overages that are left after the first policy comes through and pays as much as it can. This prevents you from owing those overages from out of pocket. This coverage is highly important in case the worst should happen.

Get Your Umbrella Policy

To make sure you have enough liability coverage, you need to get an umbrella policy. To get started, give us a call today at TAS Insurance Agency in Phillipsburg, NJ. 

Common misconceptions about umbrella insurance

Umbrella insurance is a specialized type of insurance that offers protection above and above the terms and conditions of other policies. Here is what is typically covered by umbrella insurance: Injuries, property damage, specific litigation, personal liability issues, and more. Understanding umbrella insurance might not be easy, especially because there are myths about it.

TAS Insurance Agency serves clients in Phillipsburg, NJ and nearby areas. Here we debunk some of the umbrella insurance myths.  

What Are The Most Common Misconceptions About Umbrella Insurance?

  • Umbrella insurance is very expensive. The cost of this insurance type is determined by the risk. When it comes to insurance, the cost increases with risk. Therefore, you will spend more if you wish to insure expensive assets and you have young drivers in your family. 
  • It is only for people with significant assets. One of the most widespread misconceptions about umbrella insurance is that it is only necessary for people with substantial assets. This is not true though. Even if you do not have much property, a lawsuit can bankrupt you.
  • Umbrella insurance covers jewelry, works of art, electronics, etc. The harm you cause other people is covered by this policy. Personal property is not covered. For instance, if someone is hurt inside your home or if your boat damages expensive property, or if you hit someone with it. Additionally, it can shield you from legal actions that may follow liability assertions.

Reach Out To Us

Do you live in Phillipsburg, NJ or any other surrounding towns? Are you shopping for umbrella insurance and need help choosing the right policy? TAS Insurance Agency is here to assist you. We specialize in different types of insurance, including umbrella insurance as well. If you have any questions, feel free to reach out to us. 

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. 

An umbrella policy may be the missing insurance piece for your business

Phillipsburg, NJ area business owners can turn to the team at TAS Insurance Agency for all of their insurance needs, including umbrella insurance. If you want to make sure that you have the liability protection you need, give us a call today.

An umbrella policy can help protect your business

When it comes to protecting your company from liability risk, having an umbrella policy is a good place to start. Umbrella insurance will protect your company from losses due to liability. This type of policy is especially important for any business that operates in an industry where lawsuits are common.

If your company is at risk of lawsuits, such as slip and fall claims, it’s smart to have robust insurance coverage. An umbrella policy is a good addition to a business’s commercial insurance portfolio because it will provide that protection. When a primary business policy reaches its policy limits, the risk of financial loss caused by liability risk will fall solely to the company.

And, depending on how the company was established, such as having an LLC versus a C Corp, the owners can become personally responsible. This, of course, is an unwanted situation that should be avoided at all costs. Fortunately, an umbrella policy can protect a company from this liability risk. When a primary policy is exhausted, the umbrella policy will come into play and provide protection. It makes sense to add an umbrella policy to your insurance portfolio.

We are here to help with all of your commercial insurance needs

TAS Insurance Agency is proud to serve the Phillipsburg, NJ business community. If you have questions about umbrella insurance and how it could protect your business, give us a call today.

5 Reasons You Need Umbrella Insurance

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.

What Is Umbrella Insurance?

When you have home and auto insurance policies, you can choose another type of policy to boost them both. An umbrella insurance policy helps you to have more coverage for each of them, and it’s a cost-effective way to add to your existing coverage. If you are interested in getting umbrella insurance, contact us today at TAS Insurance Agency in Phillipsburg, NJ.

Home and Auto Insurance Policies

The first step to getting umbrella insurance is to have a home and an auto policy for your home and vehicles. When you get these two insurance types, they each include a little bit of liability insurance in case of accidents. However, because those amounts of liability insurance are in small amounts, they may not cover everything after an accident. If someone has an accident in your home or with your car, you may be held liable for paying all of the medical bills that result. With an umbrella insurance policy, the amount left over can be paid by the policy instead of coming out of your wallet. 

How the Policy Works

Umbrella insurance is a secondary form of insurance that goes into effect when the first one has been exhausted. First, the initial home or auto insurance policy comes in to pay as much as it can toward the medical bills you owe. Then, when that has finished, your umbrella policy comes in to cover that overage. And, getting a high amount of umbrella insurance is highly cost-effective. Getting all of that extra liability coverage, and they all come with high maximums, comes at a small cost. It costs less to get one of these policies than it would add to both your home and auto insurance. 

Umbrella Coverage

If you have home and auto insurance and you’re interested in an umbrella policy, call us at TAS Insurance Agency in Phillipsburg, NJ.

What is Umbrella Insurance, and How Does it Protect Me?

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.