Umbrella Insurance in Morris Plains, NJ
An Extra Layer of Liability Protection
Your homeowners and auto policies include liability coverage, but those limits may not be enough after a serious accident or lawsuit.
Personal umbrella insurance adds liability protection above the limits of certain underlying policies. It can help protect your savings, property and future income if you are held responsible for damages that exceed your home or auto insurance limits.
How Does Umbrella Insurance Work?
Suppose you cause a serious car accident and the total covered damages are $750,000. If your auto liability limit is $500,000, an umbrella policy could cover the remaining $250,000, subject to the policy’s terms.
Without umbrella insurance, you could be personally responsible for the amount above your auto policy limit.
Who Should Consider an Umbrella Policy?
Umbrella insurance may be a good fit if you:
Own a home or rental property
Have savings, investments or home equity
Have a teenage driver
Own multiple vehicles
Have a pool, trampoline, dog or other added liability exposure
Regularly entertain guests
Want more protection from a major lawsuit
You do not need to be wealthy to benefit from umbrella coverage. A serious injury can lead to significant medical bills, lost wages and legal expenses.
What Can It Cover?
Depending on the policy, umbrella insurance may provide additional coverage for:
Serious auto accidents
Injuries on your property
Damage to another person’s property
Certain dog-related injuries
Certain claims involving libel, slander or defamation
Legal defense costs
Umbrella insurance generally does not cover damage to your own home or vehicle, intentional acts or business-related claims. Business owners may need a separate commercial umbrella policy.
How Much Coverage Do You Need?
Umbrella policies commonly start at $1 million. The right amount depends on your assets, income, household drivers, properties and other liability risks.
Insurance companies also require minimum home and auto liability limits before an umbrella policy can be added. Reviewing all three policies together helps prevent possible coverage gaps.
Get an Umbrella Insurance Quote in Morris Plains
BIS Improved Insurance can review your current home and auto liability limits and help you decide whether umbrella insurance makes sense for your household.
As an independent insurance agency serving Morris Plains and Morris County since 1976, we can compare coverage options and help you build protection around your actual needs.
Contact BIS Improved Insurance today for a personal umbrella insurance review.
Frequently Asked Questions
Is umbrella insurance only for high-net-worth families?
No. Anyone with income, savings, property or future earnings to protect may benefit from additional liability coverage.
Does umbrella insurance cover teenage drivers?
It may cover eligible household drivers when they and their vehicles are properly listed and meet the insurance company’s requirements.
Does umbrella insurance cover rental properties?
Some policies can include eligible rental properties if they are properly disclosed and carry the required underlying insurance.
Does umbrella insurance cover my own property?
No. Umbrella insurance is liability coverage. It does not pay to repair your own home, vehicle or belongings.
Coverage varies by insurance company and policy. Speak with a licensed insurance professional to review your specific needs.