If you need a policy that will take care of all your liability needs, you may need to look at an umbrella policy. That way, you can obtain bundled protection for your home, RV, boat, and car. This type of protection enables you to save on insurance costs, especially if you need coverage for more than, say, a vehicle.
An Added Layer of Protection
By taking advantage of umbrella insurance in Suffolk County, NY, you can add a layer of liability protection. This type of plan is meant to kick in when you reach a limit for an underlying coverage for insurance such as homeowners, auto, boat, or renter’s plans. It costs a small amount yearly to buy a $1 million umbrella plan.
Meeting Set Limits to Buy an Umbrella Plan
Because any policy for umbrella insurance in Suffolk County, NY takes effect when an underlying insurance stops, certain limits must be met. You must meet these limits to buy an umbrella plan. Typically, you will need to take out about $250,000 of liability protection on an auto insurance plan and around $300,000 of liability coverage for your homeowner’s insurance.
Make Sure That You Can Satisfy Any Liability Claim
When you satisfy these requirements, you can go ahead and purchase umbrella insurance for $1 million. A standard homeowner’s plan will help you with paying for legal fees and judgements up to a certain amount. However, when you get sued today, you will probably need a lot more than that.
Where to Learn More About the Coverage
That is why it pays to get more information about the additional coverage that an umbrella plan affords. If you can pay for the plan, which runs around $150 to $300 per year, you can give yourself more latitude if you happen to get sued for an accident on your property or while driving in your car.