Not sure what umbrella insurance is? We'll tell you! It is actually almost exactly what it sounds like: An umbrella that you can stand under to protect you from anything that may fall in your lap. You never know what is going to happen these days in New Hampshire, Maine, Vermont or Massachusetts, and most of all, you never know how much it is going to cost you. So you have a policy for your home, auto, toys, RV, but what happens when that fifty year storm comes along and takes everything you own with it? If your losses exceed the liability limits and covered losses of those policies, the additional costs to get you back to normal are in your own hands. That is why you purchase an umbrella policy to cover that excess amount owed to fix your life again.
Where your auto and homeowners policies may only cover Bodily Injury and Property Damage with a list of exclusions, an umbrella policy gives a blanket of coverage with a much broader scope of what is covered. If you are ever in a situation where you have exceeded the liability limits of your policy, your umbrella will kick in the extra coverage you need for that loss. It is the grandfather of personal property policies, and it serves to be the most beneficial policy you can have right when you need it most.
It is really all up to personal preference. But if you get stuck in a lawsuit where the court fees greatly exceed the limits that your homeowners policy provides, where is that extra money going to come from when you get sued? If you don't have an umbrella policy, it will come straight out of your pocket. Just something to think about, but consider it well.
Contact CounterPoint Insurance today for more information on umbrella policies and request a quote!
© 2011 All Rights Reserved CounterPoint Insurance 36 South River Rd, Bedford, NH 03110
