Will Your Selden, NY Auto Policy Provide Adequate Coverage if Your Car is Totaled?

If you have ever been involved in an automobile accident where your vehicle is totaled, you may be painfully aware of the limitations that many policies have when it comes to vehicle replacement coverage. If you do not have comprehensive coverage, similar to the protection that an umbrella policy offers to commercial clients, you may be left with an unexpected and unwanted expense if your car is ever totaled.

The agents at XL Brokerage, Inc. serve the greater Selden and Mastic, NY areas and are available to review your auto coverage with you to ensure that all potential eventualities are covered. Clients who acquire full, umbrella-like coverage gain the peace of mind that comes with knowing that their policy will provide the protection that they need.

Depending on your needs, there are policies available that provide full-replacement coverage should your insured vehicle be totaled in a covered event. There are other levels of protection that are available that can ensure that you will not be out of pocket for the replacement costs of your next vehicle. Whether you prefer coverage that will replace the exact model of your current car with the latest model year, or are looking for coverage that will simply provide a safe and reliable replacement vehicle, both are available. In fact, there are options of coverage levels available depending on your needs. We can review the options with you and make sure that you find the appropriate coverage.

If you are a resident of the greater Selden and Mastic, NY areas, the fully trained and helpful agents at XL Brokerage, Inc. are here to help you meet all of your insurance coverage needs. Please call us or stop by today to learn more!

Is Umbrella Insurance for Large Businesses Only?

There has been a persistent myth where individuals believe that only big businesses can afford umbrella insurance. The fact is that even small businesses need the coverage as much as the big companies do. Some lawsuits or claims are too big for regular commercial insurance and having umbrella coverage in Selden, NY provides extra protection. As a business owner, you probably do not want to think of a severe disaster happening to it, but it is wise to be prepared. XL Brokerage Inc. offers small business umbrella insurance for the following reasons:

To provide extra liability coverage

Umbrella insurance can be termed as coverage that goes beyond your existing policies. In other terms, it can be described as a policy that saves you during a storm. When your current coverage does not reach the limit of lawsuit expenses required, it jumps in to save you from going back to your pockets. It also protects your business from disastrous lawsuits that could leave you drained. Some things are just out of control, and although you cannot avoid them, you can stay safe.

Helps protect areas that were not protected

Umbrella insurance also helps in protecting claims that are not included in the other current policies. The Self-Insured Retention, however, applies in such a case where it is treated as a deductible. Umbrella insurance makes sure that nothing is left unprotected just because it was not included in the initial coverage contract.

Assists you in reaching the average limit of your policy

If what is remaining in your coverage is less than what the claim is demanding, this coverage helps to fill in the remaining amount. This is in the event of a more extensive claim that what your small business can afford.

From the above explanations, it is evident that umbrella insurance is not only for large businesses. The size of your business does not determine or dictate the degree of disaster that it has to suffer. Make a point of purchasing umbrella insurance in Selden, NY from XL Brokerage Inc. and offer your business an extra layer of protection.