Umbrella Coverage

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 insurance 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, New York, to learn more about our umbrella insurance coverage and to speak to an agent. 

What Is Personal Umbrella Insurance? 

A personal umbrella insurance 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.  

Contact us at James V. Funaro Agency for more information on our umbrella insurance solutions.  

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 umbrella insurance. 

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

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.