Umbrella Insurance in Bethpage, NY & Levittown, NY

Umbrella Coverage Information

Most people believe they have adequate insurance coverage if they have auto and home insurance. But if a claim or judgment exceeds the limits set by these existing policies, all of their assets could be at risk. A personal umbrella policy can add an extra layer of protection on top of your policies to protect you and your family from serious financial hardship.

Don’t leave it up to chance. Contact James V. Funaro Agency in Bethpage, NY, to learn more about our umbrella coverage and to speak to an agent.

What Is Personal Umbrella Insurance?

A personal umbrella policy is a type of personal liability insurance that can fill coverage gaps left by your existing insurance policies. It can protect you and your family members from covered losses. Generally, these policies come with a $1 million policy limit, but greater coverage limits may also be available.

How Does Personal Umbrella Insurance Work?

Personal umbrella coverage kicks in when the limits of your existing policies have been exceeded. It is generally broader than the underlying policies and may fill gaps between existing coverage. Your insurer will pay for covered losses up to your policy limits in exchange for your premiums.

What Does Umbrella Insurance Cover?

Although individual policies may vary, here are some commonly included personal umbrella insurance benefits:

Personal injury can pay for costs (e.g., legal fees) associated with claims that you are guilty of defamation, libel, humiliation or other covered losses.
Legal fees may cover expenses associated with lawsuits if your family is accused of causing property damage or bodily injury to a third party.
Bodily injury can help pay for lost wages, funeral expenses and medical expenses if you or your family are deemed responsible for causing physical harm to a third party.
Property damage may pay for repairs or replacements if you damage the property of a third party.

Do I Need Umbrella Insurance?

Personal umbrella insurance is not required; however, you may decide that the benefits far outweigh the costs of your premiums. If your total assets (e.g., savings accounts, home equity) are greater than your existing coverage limits, if you feel that you are at risk of getting sued or if you simply want peace of mind, you may choose to purchase this insurance.

Let us help. Contact James V. Funaro Agency for more information on umbrella coverage.

Is It Worth Having an Umbrella Policy?

An umbrella policy can be worth considering for anyone who wants an extra layer of liability support beyond what a home or auto policy already includes. It often becomes more relevant for those with significant assets or higher exposure to lawsuits. An agent in Bethpage, NY & Levittown, NY can help weigh whether it fits your situation.

Can I Just Buy Umbrella Insurance?

Umbrella insurance is generally purchased alongside an existing home or auto policy rather than as a standalone option. Insurers often require certain underlying policies to be in place first. An agent can explain what qualifies as a starting point for umbrella coverage.

What Is Not Covered by Umbrella Insurance?

Umbrella insurance is designed to extend liability support and typically does not apply to personal property damage or business related risks. It generally follows the structure of the underlying policies it supplements. An agent can clarify specific exclusions based on your policies.

How to Choose an Umbrella Insurance Policy?

Choosing an umbrella policy often starts with looking at your existing home and auto liability limits and identifying possible gaps. Personal circumstances like assets and lifestyle can also influence the right amount to consider. An agent can walk through these factors to help find a good fit.

How Do I Know How Much Umbrella Insurance Costs?

Cost can vary based on factors like the amount of coverage selected and the underlying policies in place. Personal risk factors may also play a role in pricing. An agent can provide a quote tailored to your specific situation.

Getting Personal Umbrella Insurance

At James V. Funaro Agency, we understand the value of protecting your family and assets. Contact us today to speak to an insurance agent and to get a personal umbrella insurance quote.