You can be the most careful person and accidents are still going to happen. If you cause someone else property damage or bodily harm, then you are held financially responsible for likely hundreds of thousands of dollars. Getting an umbrella insurance policy in Easton, PA won’t stop accidents from happening, but it can protect you from the financial burden that comes along with accidents. You will already have liability coverage from your auto and home insurance policies, but those are only good for a certain amount. With an umbrella policy, you get to extend that coverage and be protected against other types of accidents that may not be covered under these policies.
Umbrella insurance will protect you from the financial trouble that comes along with a liability claim against you. The coverage is limited by the amount you have for your umbrella policy, but it can provide for expenses such as the plaintiff’s medical bills, property damage, pain and suffering, lost wages, and legal and court fees, as well as your legal defense fees. If your current auto policy only has a limit of $300,000 and you cause an accident with $500,000 in damages, then you would be on the hook for $200,000. However, with umbrella insurance, you won’t have to pay that out of pocket and can instead dip into your coverage.
Many policies start at $1 million in additional liability coverage. This is typically enough for most people who are at low risk for a lawsuit. If you are more at risk then you may want to consider higher limits. An agent at Northeast Insurance Advisors LLC can help you determine your risk and how much umbrella coverage you should have in Easton, PA. Things to consider include how much money you make currently, how much you will make in the future, how much you already own, and how risky your lifestyle and property are.
Contact Northeast Insurance Advisors LLC to get a quote on umbrella insurance.
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