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Sloan Insurance Agency

33 2nd St
Elmer, NJ 08318

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What does umbrella insurance cover?

Umbrella insurance from the Sloan Insurance Agency is a type of policy that provides additional liability coverage to protect you from catastrophic loss in the Elmer, NJ area or anywhere else. It helps you cover the costs associated with personal injury lawsuits and other legal fees if you are found liable for an accident or situation that exceeds the limits of your existing homeowners, auto, or business insurance policies.

Umbrella insurance can help pay for damages like property damage, medical expenses, legal defense costs, libel or slander claims, and more. It also covers situations where you may not be legally liable but still have financial responsibility for another person’s injuries or property damage. This can include paying for a third party’s medical bills after an accident on your property.

It’s important to note that umbrella insurance does not cover all losses. Generally, it does not cover personal property damage or repair costs for your car or home. Additionally, it won’t cover intentional damage caused by you or someone in your family.

Umbrella insurance kicks in when the liability limits of your existing policies are exceeded. For example, if you’re found legally liable for an accident that causes $100,000 in damages, your auto insurance only covers up to $50,000 in liability costs. Umbrella insurance could cover the additional $50,000.

Umbrella insurance is a smart way to protect yourself from catastrophic loss and give you the peace of mind that you are covered if the unexpected happens. It can be an invaluable addition to existing auto, homeowners, and business liability policies and help ensure you are prepared for anything life throws at you. Consider speaking with Sloan Insurance Agency today to determine if umbrella insurance suits you. We proudly serve the Elmer, NJ area.