Umbrella insurance provides residents in Sayville, NY with an extra layer of protection. The additional coverage may seem unnecessary now, but you might be surprised just how inexpensive an umbrella policy can be.
Often, the price of umbrella insurance is startlingly inconsequential compared to the damages of one accident resulting in a lawsuit.
What is umbrella insurance?
Umbrella policies are designed to protect homeowners in a way that home, auto, and liability policies can’t. They’re essentially exalted liability insurance policies that fill in the gaps your other insurance leaves behind, protecting you against litigation in case someone is injured or someone’s property is damaged either on your property or as a result of your actions.
Who needs umbrella insurance?
For years, umbrella policies were considered a luxury for the rich, an extra layer of security that "ordinary people" didn’t really need. But more and more financial experts agree that, depending on your situation, making the investment can be a smart financial choice for almost anyone.
The following risk factors make you a particularly good candidate for an umbrella policy:
- a pool or hot tub on your property
- ATV’s or other recreational vehicles on your property, especially those that visiting guests sometimes use
- inexperienced drivers on your auto insurance policy
How expensive is it?
Umbrella policies are usually sold in increments of $1 million, and for many, annual premiums are as low as $200-$300. Of course, every policy varies a bit depending on its coverages and exclusions and the amount of insurance you want to purchase.
As your local independent insurance agent, we’d love to talk to you about your insurance options, get you quotes on umbrella policies so you have an idea of what to expect, and help you determine just how much (if any) umbrella coverage you should purchase.