When it comes to getting insurance coverage, there's a fine line between finding the best policy for your needs while staying within your budget. And, when the unexpected happens, you want to ensure that you’re covered for various situations. To this end, umbrella insurance, which offers protection against everything from lawsuits to extra liability, is a wise choice for many. NorthEast Insurance Services in Freehold, NJ, has been helping the community meet their policy needs. Here, they explain what you should know about the comprehensive plan.
What to Know About Umbrella Insurance
1. It Safeguards Against Worst-Case Scenarios
Many don’t realize how invaluable an asset insurance is until unfortunate situations arise—and they happen more often than people would like to believe. If you have neighbors over and they fall on your sidewalk during the winter, or if you employ a house cleaner or contractor, you are putting yourself at risk for possible damages. Umbrella insurance will give you peace of mind that you won’t lose all your assets if the tragic and unexpected happens.
2. It's Fairly Affordable for Good Coverage
Fortunately, comprehensive protection will not break the bank. Your agent will help you find the best coverage options for your budget. The investment doesn’t compare to what you save if a lawsuit is brought against you or you have to pay out of pocket for excessive homeowners insurance damage.
3. Umbrella Policies Are a Supplement to Traditional Ones
Your homeowners and auto insurance policies are the baselines of your coverage. Umbrella protection comes into effect once you've reached the maximum of those traditional plans. For instance, if your home insurance covers up to $200,000, but your liability exceeds that by $150,000, the umbrella portion will begin to cover that additional amount, so you aren't paying out of pocket.
If you're interested in buying an umbrella insurance policy, contact the experienced team at NorthEast Insurance Services. Their knowledgeable agents are well-equipped to help you find the right match for your unique needs and budget. Visit them online for more information about the company, or call (732) 972-1771 to set up your consultation today.