What does an umbrella insurance policy cover?

An umbrella insurance policy is designed to provide additional coverage if your regular insurance policies are insufficient to cover certain expenses or claims. For example, suppose you accidentally injure someone while driving and don’t have adequate car insurance coverage. In that case, an umbrella policy can help protect you from paying out-of-pocket for those losses.

With an umbrella policy, you typically select a base amount of coverage – often $1 million or more – that provides protection against liability costs beyond what your other policies will cover. So, for instance, if you own a home and have significant savings in the bank but only have basic auto and homeowners insurance coverage, an umbrella policy can help provide extra financial protection if someone gets hurt on your property or your home burns down.

With an umbrella policy, you typically select a base amount of coverage – often $1 million or more – that provides protection against liability costs beyond what your other policies will cover. So, for instance, if you own a home and have significant savings in the bank but only have basic auto and homeowners insurance coverage, an umbrella policy can help provide extra financial protection if someone gets hurt on your property or your home burns down.

And because these types of claims can be extremely costly to pay out of pocket, having adequate coverage is essential to protecting yourself from substantial financial loss. If you don’t have any umbrella coverage, it’s worth considering whether it makes sense for you. If you have any questions about umbrella insurance, give the DePaulo Agency a call today. We proudly serve the Scotia, NY area.