Umbrella Insurance Service in Harlem, NY 10030
Umbrella Insurance Service in Harlem, NY 10030
Smart Service Junction Inc. umbrella insurance policy is extra liability insurance coverage that goes beyond the limits of the insured’s homeowners, auto, or watercraft insurance. Generally, if you get into an automobile accident or someone has a mishap involving your property, you may be held responsible for damages or injuries. Umbrella policies are intended to cover any resulting liability that exceeds the amount covered by your other standard insurance policies
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Is umbrella insurance worth it? Umbrella insurance is worth it if the value of your assets exceeds your auto or home liability insurance limits. Umbrella policies are relatively inexpensive so they are worth the investment if you have significant assets you're looking to protect from costly liability claims.
What is the purpose of an umbrella policy? Umbrella insurance is extra insurance that provides protection beyond existing limits and coverages of other policies. Umbrella insurance can provide coverage for injuries, property damage, certain lawsuits, and personal liability situations.
Example of an Umbrella Insurance Policy
To understand how umbrella insurance can help, consider the following scenario. If a driver runs a red light and accidentally hits another car, there might be significant damage to the vehicle and several people might be injured.
With car repairs totaling $50,000 and the treatment of the injuries eclipsing $500,000, the driver at fault may be liable for expenses that go far beyond the coverage limits of their insurance. An umbrella insurance policy will pick up the additional liability costs beyond the limits of car insurance coverage.
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