What is an umbrella insurance policy?

What is an umbrella insurance policy?

Umbrella Insurance

What is Umbrella Insurance?

An umbrella policy is a form of liability insurance that will supplement your basic liability policies such as auto, home, condo, co-op or renters insurance. The main purpose of an umbrella policy is to protect you from major claims and lawsuits that exceed the liability coverage you have on your home or auto policy. This additional layer of liability insurance will help to protect your assets. And your future!

In our litigious society it is not uncommon for lawsuits to occur after many accidents. And settlements often reach seven digit figures. Many people don’t realize that future earnings can be garnished, leans on home can be placed and attorney fees must be paid.

Having an umbrella policy will provide you with the peace of mind to protect your assets that you have worked hard to build. We suggest obtaining enough coverage to cover the total of your assets which include your home, vehicles, special collections, savings and retirement accounts. This limit should be revisited every three years to be sure the amount is adequate.

 

For more information or answers to your insurance questions, contact us at Allan Block Insurance Agency, www.ambins.com, located in Tarrytown, NY in the heart of Westchester County, a key business district near New York City.  We write auto, home, renters, condo, co-op, personal, business, life and group insurance for clients locally and in NYC, CT, NJ, PA, MA and many other states. The Professional Agency with the Personal Touch.