Chances are, you have covered your home, car, and yourself with insurance to ensure that you are protected for all emergencies that may come your way. However, depending on your plan, this may not cover all emergencies. This is where NJ Umbrella Insurance comes in. It covers everything your regular policy doesn’t.
While your regular home and auto policy may cover you for damage to your property or to another person’s property, they may not cover your for lawsuits and liability, or for larger claims that exceed the amount covered by your standard policy. Umbrella insurance will kick in to cover the rest, this makes this an important addition to your standard coverage if you want to avoid being socked with hefty medical bills or legal fees.
Umbrella insurance is especially important for homeowners that may have dangerous areas on their property that could cause injuries. This could be pools and outdoor recreational equipment, steep inclines, large and dangerous trees, high retaining walls, and other objects that could leave you more susceptible to a claim. This coverage also helps if your dog or pet were to attack someone, or if your suffer damage to your property that isn’t covered under your existing policy.
Umbrella insurance is also important for property owners who are not regularly on their property to maintain it. This goes for people with rental properties or seasonal businesses where there may be claims that you cannot monitor due to not living or regularly working on the property.
Umbrella insurance is especially important in the event of a medical claim that results in substantial medical bills that go beyond what your standard coverage covers. This would go for car accidents where you were at fault as well as injuries on your property. Most policies will only cover up to a certain amount, but umbrella insurance will cover the rest of medical bills exceed the limit. This can save you a lot of money and the hassle of a lawsuit.
If you want to learn more about NJ umbrella insurance, ABCO Insurance Agency can help. Our caring and professional staff will get you several quotes to ensure that you get a great deal on great coverage. Call today for more information!
Learn more about NJ Umbrella Insurance from ABCO HERE.