Cover Gaps In Primary Coverage With A Personal Umbrella Insurance Policy
A personal umbrella policy protects future income and current assets. It is a liability insurance policy that is able to fill in the coverage gaps left by other policies. In certain situations, the umbrella policy can actually take the role of the primary policy. The word "umbrella" is in reference to how the policy protects assets in a broader way than primary coverage.
One example of the benefits of a personal umbrella policy might be a fatal car accident. In this case, the insured is sued for $1 million, but the primary auto coverage only takes care of $350,000, leaving $650,000 in the air. A personal umbrella policy takes over where primary insurance leads off. It "sits on top of" regular insurance and covers the gaps.
Many of these policies are purchased in increments of $1 million coverage at a time, up to $5 million or so. A thorough policy not only covers bank accounts and investments, it covers future earnings, valuables and the home. When considering a personal umbrella policy, make sure to take every asset into account.
These policies are not only effective but are also inexpensive. A good policy can be purchased for around $1 a day. That is an insignificant amount of money to pay for peace of mind.
Peak Advisors has been providing personal umbrella policies for our clients on Long Island for many years. We work in tandem with many of the area's top insurance providers. With their backing, we are able to provide a comprehensive selection of insurance policies that meet every individual need.
Since James Eckardt began our company in Massapequa in 1990, we have slowly built our firm on the goodwill of our satisfied Long Island clientele. We invite you to join our family of customers by requesting a free insurance assessment. Fill out the form on the right of this page with your current contact information, and one of our advisors will be in touch. Check out our testimonial page here: Client Testimonials
A personal umbrella policy is a cost-effective way to fill gaps in primary coverage. For a minimal investment, they provide maximum peace of mind and the knowledge that family and property are covered adequately.
New York Personal Umbrella Insurance Policy Information
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