Umbrella Insurance In Pennsylvania and New Jersey
Have you ever wondered why whoever coined the phrase umbrella insurance chose the name? We don't know either. Could it have been because, like an umbrella on a cloudy day, it pays to take it along because you probably won't need it, you'll be glad you brought it if it starts pouring? Or perhaps it was because if you find yourself in a storm, it gives you a circle of protection. Both of these what ifs are true. That's why we encourage our customers here at Devlin Insurance Agency® to investigate it.
What is Umbrella Insurance?
Umbrella insurance is a supplementary type of coverage that extends the liability coverage provided in your standard insurance policy. Depending on the coverage you select, umbrella insurance can even protect multiple properties and vehicles. You'll notice we called it supplementary. We also could have said secondary because you can't purchase umbrella insurance as a standalone policy. You need to have basic liability coverage already in place, be it as part of an already existing automobile, homeowner, or motorcycle insurance policy, to qualify.
How Can I Decide Whether I Need Umbrella Insurance?
Can you rule out the possibility of skidding head-on into an oncoming car in a snowstorm, or damage was done to a neighbor's property blamed on your alleged negligence damage. Both of these situations are very possible here in Pennsylvania and New Jersey, a state where lawsuits are running rampant. So If you can even imagine these scenarios coming to fruition, you need umbrella insurance. It would kick in as soon as the basic liability coverage on your automobile or home insurance policy has been depleted. Oh, and by the way, umbrella insurance also applies to legal defense costs.
How Much Will Umbrella Insurance Cost Me?
There is no easy answer to this question since there's no way of predicting how much a judge will award any plaintiff who might sue you. The answer depends on your personal situation; how much you can afford to lose; how much risk you face in your life. But then, that's what we're here for, here in Doylestown, Pennsylvania. Come in anytime or give us a call, so we can review your existing coverage, and talk about your options