Umbrella Insurance

How can Umbrella Insurance Help my Liability Limits?

In most cases, home or auto insurance will cover any liability you have, but there are cases where your liability can get very costly. A major accident, or a significant judgment against you, could wipe you out. The Shults Insurance Agency Inc. offers umbrella insurance for people in New Jersey for that reason. Standard insurance policies have limits, and an umbrella policy is for when you go beyond those limits.

People may have more "net worth" than they realize. If you own cars, boats, or a house, your property has a value that needs to be protected. Your retirement savings can also be at risk if you get into a significant accident. Homeowners have the same risks. If someone gets hurt on your property, you could be liable for damages as well as the amount a court determines. There are cases where people have been awarded millions of dollars in liability cases. If you are held liable in a major incident, you could lose your savings, your home, and any other property you have.

If you own property, you need to protect your property. This is especially valuable for people nearing retirement who have built up a substantial amount to live on after they retire. Often this type of coverage is considered insurance for wealthy retired people, but working people could also benefit from having extra coverage that a New Jersey umbrella policy can offer.

There are many forms of liability as well. Umbrella coverage can cover you for things like slander, plagiarism, and other elements not explicitly related to a property.

Visit Shults Insurance Agency Inc. for all your New Jersey insurance needs. Our professional staff can help you determine what coverage you need, and explain all the details of umbrella coverage. You will have to have already auto and home insurance to get an umbrella policy as it is designed to cover beyond the limits of your coverage. Contact our office in New Jersey for more information.