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Extra Protection with Umbrella Insurance

Life is unpredictable—gain peace of mind with extra liability coverage. Protect your assets and secure your future with our umbrella insurance.

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Frequently Asked Questions (FAQs) - Umbrella Insurance in New York

What is umbrella insurance?

Umbrella insurance provides additional liability coverage beyond the limits of your standard auto, home, and other primary insurance policies. It helps protect your assets from major claims and lawsuits.

What does umbrella insurance cover?

Umbrella insurance covers liability claims, including bodily injury, property damage, legal fees, and personal liability cases such as libel, slander, and invasion of privacy.

How does umbrella insurance work?

Umbrella insurance kicks in when the liability limits of your primary insurance policies (like auto or homeowners) are exhausted. It provides extra coverage for significant claims and legal defense costs.

Who needs umbrella insurance?

Umbrella insurance is beneficial for anyone with significant assets to protect, such as homeowners, business owners, landlords, or individuals with high-risk hobbies. It offers peace of mind against large liability claims.

How much umbrella insurance do I need?

The amount of umbrella insurance you need depends on your net worth, income, and potential risks. Coverage typically starts at $1 million, but you can purchase higher limits based on your needs.

How much does umbrella insurance cost?

Umbrella insurance is relatively affordable, typically costing $150 to $300 per year for the first $1 million in coverage. Additional millions in coverage generally cost less per million.

Does umbrella insurance cover business activities?

Standard umbrella insurance policies do not cover business activities. You may need a separate commercial umbrella policy to cover business-related liability claims.

What are the exclusions of umbrella insurance?

Umbrella insurance usually does not cover intentional damage or criminal acts, business activities (without a commercial policy), and certain liabilities like workers' compensation or professional liability.

Can I add umbrella insurance to my existing policies?

Yes, you can add umbrella insurance to your existing auto, home, or other primary insurance policies. It is advisable to bundle it with your existing policies for potential discounts and streamlined coverage.

How do I file a claim with umbrella insurance?

To file a claim, contact your insurance provider as soon as possible. Provide details of the incident, and they will guide you through the process. Umbrella insurance typically requires that you first file a claim with your primary insurance policy.

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