Why you need Umbrella Insurance in New Jersey
Do you have auto and property insurance but wonder what the hype is around Umbrella Insurance? Do you have assets or plan to have assets? If so, you will want to take out an umbrella insurance policy to properly cover what you’ve worked so hard for. When it comes to protecting your future, standard auto and home insurance policies often aren't enough—especially in today’s world where lawsuits are increasingly common and costly. If you own a home, drive a car, or have valuable assets, umbrella insurance is one of the smartest and most affordable ways to safeguard your financial well-being.
What Is Umbrella Insurance?
Umbrella Insurance is a type of personal liability coverage that goes beyond the limits of your standard auto, home, or renters insurance. Think of it as a financial safety net. If you’re held responsible for an accident or incident where damages exceed your existing coverage, an umbrella policy can kick in to cover the remaining costs—often up to $1 million or more.
Why It Matters: The Risk of Being Underinsured
The average liability lawsuit in the U.S. is now hovering around $1 million. A severe car accident, a dog bite on your property, or even a guest slipping on your icy walkway could easily lead to legal claims that exceed your current coverage limits.
Without umbrella insurance, you could be personally responsible for the remaining costs—putting your home, savings, future income, and other assets at risk. This means that even if you don’t own a home or currently have a savings account your future income could be at risk. Did you know that when people are sued their future income can be used to pay back the other party? To protect your future self it is important to take out an umbrella insurance policy in Morris Plains, NJ.
Real-World Scenarios Where Umbrella Insurance Can Help:
Auto Accident: You're at fault in a multi-vehicle crash. Damages and medical bills exceed your auto policy’s liability limits.
Home Liability: A visitor falls on your property and suffers a serious injury. Your homeowners insurance only covers part of the claim.
Lawsuits: You're sued for slander, libel, or emotional distress—issues that aren’t covered by many standard policies.
The Best Part? It’s Affordable.
You can typically get $1 million in umbrella liability coverage for around $300 per year—less than $1 a day. For such low cost, the peace of mind and protection it offers is invaluable.
Protect What Matters Most
If you live in Morris County, NJ, or anywhere in New Jersey, and you own a home, vehicle, or have other significant assets, an umbrella policy could be one of the most important insurance decisions you make.
Let’s make sure your coverage truly protects everything you’ve worked so hard to build.
At BIS Improved Insurance Agency we have been helping others with their insurance needs in Morris Plains, NJ for almost 40 years. We are happy to help you determine your coverage and price options for commercial and personal insurance. We also serve the surrounding morris county ie: Roxbury, Morristown, Randolph, Bedminster, Chester, Mendham, Mount Olive, Parsippany and Denville.
📞 Call BIS Improved Insurance at 973-683-1000
🌐 Learn more at www.bisrm.com
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