Umbrella insurance takes over once your primary policy is exhausted

If you are a business owner or a high net worth individual, it’s time to take a look at umbrella insurance. One’s primary policy, whether commercial or homeowner’s, will have policy limits, that once reached, are exhausted and you then become liable for any excess loss. In order to protect yourself in the event that a covered loss exceeds your primary policy limits, an umbrella insurance policy will then kick in to protect you from damages that aren’t covered by your base policy. The team at XL Brokerage Inc. understand how important it is to have adequate liability coverage, and they are here to meet those needs for the greater Selden, NY community.

Umbrella insurance takes over once your primary policy is exhausted

It may feel like your policy limit levels are adequate to protect you and your family or business, but what happens in the event that they aren’t? One major event can exhaust a primary policy. Because life is filled with uncertainty, and it is always better to be prepared, it makes sense to add umbrella coverage to your primary policy. Personal liability can be devastating in many events, and having an umbrella policy can make the difference between a recoverable loss and financial devastation. Even if you have assets to absorb such a loss, why wouldn’t you want to allocate those assets to more beneficial uses? Many cases of personal liability can be avoided when one carries adequate umbrella insurance coverage. 

Don’t be left with liability that you could have prevented. Call or stop by the XL Brokerage Inc. office and meet with one of our knowledgeable local agents. We are proud to serve the greater Selden, NY area and look forward to meeting with you soon!

3 Tips for Buying Flood Insurance in Selden, NY

A flood is a devastating event that leaves homeowners in a terrible situation. Flooding is not only dangerous to people’s lives, it causes extensive damage in a short time. Once a flood occurs, it’s important to call in a cleaning crew immediately. Standing flood waters are dangerous to your health as they produce mold and bacteria.

Without a flood insurance policy in place in Selden, NY, you would be left on your own to cover the flood damage. To avoid this, consider purchasing a flood insurance policy to protect your home. XL Brokerage Inc. has put together a short list to help you get started with the process.

1. Bundle Your Insurance Policies

When you bundle all your insurance policies together under one insurance carrier, you will save money on your premiums. Keep this in mind when shopping for flood insurance as you can bundle this with your auto, home, life, commercial, and toy insurance, for example.

2. Compare Several Quotes

Not all flood insurance policies are the same. For this reason, it’s important to compare several quotes before making a commitment. A trusted insurance agent can help you go through the fine details, comparing cost and coverage, and help find you the right policy for the right price.

3. Work with a Reputable Agent

A trusted and reputable agent will be key to finding the right flood insurance policy. This experienced professional will have the knowledge needed to make sure you purchase the correct flood insurance policy.

To learn more about purchasing flood insurance in Selden, NY, contact XL Brokerage Inc. today. One of our friendly agents is standing by to help you get started.