How Can Umbrella Insurance Protect Someone?

Posted on by admin

Are you looking for insurance in New Windsor, NY, to boost your home, auto, or boat insurance? If yes, with umbrella insurance, you have a safety net to protect you when claims exceed your typical insurance coverages. Want to find out how this insurance can cover you? Please keep scrolling as Windgate Insurance Agency Inc. elaborates how umbrella insurance protects you. 

What is umbrella insurance?

It’s an insurance policy plan that comes to your rescue when faced with substantial claims exceeding your home, boat, or auto insurance. Umbrella insurance protects your assets and future earnings against unforeseen tragic events that other insurance options may not cover. 

For instance, assume you are at fault for a major accident that causes severe injuries to the other driver. Suppose your auto liability coverage has a bodily injury liability of $60,000 and the medical costs of the injured driver stand at $75,000. Without umbrella insurance, you will have to fork out the uncovered $15,000 from your pocket. And worse yet, this amount can rise significantly if the driver decides to sue you! 

What does umbrella insurance cover?

While umbrella insurance isn’t mandatory in New York, you should consider it to get the below protection:

  • Bodily injury: Covers the medical costs for injuries you sustain to other people.
  • Property damage: Pays for the property damage costs for liabilities exceeding your typical insurance coverages. 
  • Legal costs: If you are sued, your umbrella insurance covers defense costs, regardless of whether you are at fault. 
  • Personal liability: The incredible thing about umbrella insurance is that it’s broader than other liability coverages. Umbrella insurance covers you against slander, libel, and malicious prosecutions. If you are found liable for a slanderous online comment, your umbrella insurance saves the day by covering the associated legal costs.

Are you shopping for umbrella insurance in New Windsor, NY? Please contact Windgate Insurance Agency Inc. for a personalized quote.