Umbrella Insurance in Selden, NY

Shelling out extra money for umbrella insurance may make you a little hesitant, but if you have a significant net worth than it likely makes sense to opt for the coverage. Additionally, if you have significant net worth plus you drive frequently, have a pool or another dangerous item like a trampoline, or keep firearms in your arm having an umbrella policy is worth the cost. In short, the whole premise of umbrella insurance is to protect your assets to include vehicles, real estate properties, and investments from a lawsuit. Let’s take a deeper dive.

How To Decide if you Need Umbrella insurance

Since there’s no one size fits all answer for this question, it’s important to ask for help. If you are located in the Selden, NY area, the XL Brokerage Inc wants to be your go-to solution for any insurance needs. We’ll ask you a few simple questions to help determine if umbrella insurance is right for your situation. For a quick guide, we recommend calculating your net worth by adding the value of your assets and subtracting any debt (ex: mortgage). Once done, check how much liability coverage you already have on your various insurance policies and subtract from the figure determined in step 1 (determining your net worth). The difference between your current liability coverage and your net worth is how much money or total assets is unprotected. If it’s a substantial figure than an umbrella policy is a good idea. 

Is it worth it?

Ultimately, only you can decide if having an umbrella decision is right for you but at XL Brokerage Inc in Selden, NY we want you to feel confident and informed no matter which way you go. If you have significant assets, then the little bit of extra cost every year is worth the peace of mind. While hopefully, you will never have to use your umbrella insurance policy, if it’s needed you will be thrilled that you have it. 

Do I Need Flood Insurance?

Flood insurance is one coverage add on you’ve likely heard of, and yet you probably wonder if it is the right coverage for you and if it is something you should consider. After all, it isn’t generally packed into your standard home insurance policy, so you may not know if it is the right option for you. Our team at XL Brokerage Inc. is here to address all of the questions regarding whether you need floor insurance in greater Selden, NY. 

What Does Flood Insurance Cover?

Flood insurance naturally covers flooding. Flooding can occur during a natural storm, such as extremely heavy rain. It can also cover a fast thaw where a large amount of snow water melts and seeps into the ground around your property. It also covers the flooding caused by putting out a fire. A considerable amount of water is pumped into your home to put out a fire, resulting in flooding. Flood insurance will cover this. 

Do You Need Flood Insurance?

Do you want to protect yourself in the event of any kind of extreme water damage? It is expensive to make water repairs (as well as remove mold). If you don’t want to make these repairs out of pocket, consider flood insurance. 

Call For All Your Flood Insurance Questions

Flood insurance is a valuable add on when it comes to your home owner’s insurance. While not necessary, it will help protect you in the event of flooding. If you want to know more about flood insurance, whether it is right for you or if you should consider other home owner’s insurance add ons, our staff here at XL Brokerage Inc. is here to address those questions. If you live in Selden, NY and the surrounding areas all you need to do is give us a call at your earliest convenience.