Helping you plan for the unexpected is what we do at Dickstein Associates Agency with comprehensive personal insurance coverages designed to respond in the event of an accident or loss. Liability insurance in Auto and Homeowners policies is an integral part of that planning. If you have a boat, coverage for liability is also critical. Yet there are times, unfortunately, when a catastrophic event occurs that can upend the financial well being of an individual or family without the extra Liability insurance in place.
This is where Personal Umbrella insurance comes in.
Umbrella insurance is designed to extend the Liability coverage found in your primary, underlying policies, such as in your Auto, Homeowners, Condo, Renters, and Boat policies. If, for example, you have $100,000 in Liability limits with your Auto policy and purchase a million-dollar Umbrella policy, you would have a total of $1.1 million in limits in the event of a covered catastrophic incident such a multi-car accident involving life-threatening injuries. The Umbrella policy kicks in when you’ve exceed the amount of Liability coverage available in your primary policies.
Umbrella policies are sold in increments of $1 million and typically are available up to $5 million. For high net worth individuals, we have markets that can provide high-value Umbrella insurance with limits up to $100 million.
In addition, Umbrella policies extend the limits in your primary policies to not only provide additional coverage for bodily injury and property damage, but also to cover things that are not provided in your underlying insurance coverages.
In today’s litigious environment with multi-million-dollar verdicts commonplace, you’re making a sound financial decision to go the extra mile with Umbrella insurance to safeguard your assets. The cost for the extra coverage is worth it.
New Jersey, New York, Pennsylvania, Delaware, Florida, Iowa, Illinois, Indiana, Maryland, Michigan and Utah.