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Umbrella Insurance

Life is unpredictable, and sometimes, the unexpected happens. When it does, your standard insurance policies might not be enough to cover all the costs. This is where umbrella insurance comes in. Designed to provide extra protection beyond the limits of your existing policies, umbrella insurance ensures that your financial future is secure.

What is Umbrella Insurance?

Umbrella insurance is a type of liability insurance that provides coverage beyond the limits of your homeowners, auto, and boat insurance policies. It kicks in when the liability limits of your other policies are exhausted, offering an extra layer of security.

Why Do You Need Umbrella Insurance?

While your standard insurance policies offer substantial coverage, they might not be sufficient in the event of a major accident or lawsuit. For example, if you’re involved in a severe car accident that results in extensive injuries and damages, the costs could quickly exceed the limits of your auto insurance policy. In such cases, umbrella insurance can cover the additional expenses, protecting you from significant financial loss.

Key Benefits of Umbrella Insurance

1. Additional Liability Protection: Provides extra coverage beyond the limits of your existing policies.
2. Covers Various Incidents: Includes protection for incidents like libel, slander, and false arrest, which are typically not covered by standard policies.
3. Affordable Premiums: Offers substantial coverage at a relatively low cost compared to the amount of protection it provides.
4. Peace of Mind: Ensures that you are financially protected in the face of significant claims or lawsuits.

How Much Coverage Do You Need?

The amount of umbrella insurance you need depends on several factors, including your assets, potential risks, and comfort level. A general guideline is to purchase enough coverage to protect your net worth. Most policies offer coverage starting at $1 million, with the option to increase in $1 million increments.

Who Should Consider Umbrella Insurance?

– Homeowners: Protect your home and assets from large liability claims.
– Vehicle Owners: Extra protection for car, boat, and recreational vehicle owners.
– Landlords: Safeguard against potential liabilities arising from rental properties.
– High Net-Worth Individuals: Ensure that significant assets are protected from unforeseen liabilities.

Contact Us

Protect your financial future with umbrella insurance. At Licato Agency, we specialize in helping clients find the right coverage to meet their needs. Our team is dedicated to providing personalized service and finding the best combination of coverage and cost.

Call Licato Agency today at 908-757-5500 to learn more about umbrella insurance and how it can safeguard your assets. Don’t wait until it’s too late – get the protection you need now!