Umbrella insurance might sound like a big tarp, somehow covering everything that you might ever need to file a claim for. But the truth is that it’s a little more specific than that, and it helps to know how it might affect you. XL Brokerage Inc. wants you to know more about what this policy is and how it applies to different kinds of insurance policies — including that of auto insurance.
What Does Umbrella Insurance Do?
When you first buy an insurance policy in Selden, NY, you might be aware that it has certain limits. This means that the insurance carrier will pay up to a certain amount for a certain category. So in the case of auto insurance, it might be up to $100,000 per accident. This means that if the costs of the accident go beyond this 6-figure number, the auto insurance company will not pay the additional amount.
However, this does not mean that you’re not liable for these fees. You will still need to pay them in order to be legally compliant. Umbrella insurance will essentially extend the limits of your policy so that you’re covered in case this occurs. From bodily injuries to legal fees, the fall-out from a serious accident can be severe.
Going the Extra Mile
Umbrella insurance is all about liability, which is why you’ll see public officials rushing to get a policy. However, that doesn’t mean that more people wouldn’t benefit from having this extra resource in their back pocket. If you live in Selden, NY, and have questions about how to get the type of coverage that you can really rely on, call XL Brokerage Inc. today to learn more about our services and get the right advice.