personal umbrella insurance in Babylon

Top Reasons to Have Personal Umbrella Insurance

Homeowners insurance and auto insurance are the mainstay staples of most residential insurance plans. However, the liability limits set on those policies may not be enough to cover catastrophic accidents or losses. The extra coverage provided by personal umbrella insurance in Babylon can extend the liability coverage of those policies.

Umbrella Coverage

Extend the reach of your homeowners and auto insurance policies limitations. Items covered under an umbrella policy typically include:

  • Landlord liability
  • Bodily injury
  • Property damage
  • Personal injury

Liability Example

A prime example of the necessity of personal umbrella insurance is a car accident. If you are sued by the other driver or passenger, that person could go after your personal assets. Injuries and loss of work are often the primary motivators for a suit. If they sue you for a full $1 million and your auto insurance only covers the standard $250,000, you could be liable to pay the other $750,000. An umbrella policy comes in and covers the difference extending your liability and protecting your assets.

An agent knowledgeable about personal umbrella insurance in Babylon can ensure you are getting the right amount of extra coverage. They can assist you in determining your net worth and adjust the policy based on million-dollar increments. Umbrella policies offer protection at a value saving you money in the event of a catastrophic liability event.