Benefits of an Umbrella Policy
A personal umbrella policy provides higher limits of liability insurance for your car insurance and homeowners policies in the event that an auto accident or a homeowners liability incident results in an injury and a subsequent lawsuit filed against you.
An Added Layer of Protection
The umbrella policy supplements the liability limits already provided by underlying personal insurance policies in amounts starting at $1,000,000 per occurrence. It also offers protection against personal injury liability, such as libel, slander and defamation, which are not covered by car insurance or homeowners policies.
The base premium for a $1,000,000 New Jersey umbrella insurance policy for a risk involving two cars, one residence, no inexperienced drivers and no other liability exposure premium will range from $250 to $300 and approximately $220 for a Pennsylvania policy.
Umbrella insurance provides coverage anywhere in the world, and it’s intended for personal exposures only.