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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.

Does Umbrella Insurance Cover a Home Office in New Jersey?

If you work from home in Elmer, NJ, you may wonder if your umbrella insurance policy will cover your home office in case of a liability claim. The short answer is that it depends on which policy you choose. Agents at the Sloan Insurance Agency are always available to discuss your policy and help you get the coverage you need.

Umbrella insurance is designed to provide liability coverage above and beyond the limits of your homeowner’s or renter’s insurance policy. So, if you have a $500,000 umbrella policy and are sued for $1 million, your umbrella policy would pay for the additional $500,000. However, it’s important to note that umbrella policies have exclusions, just like any other type of insurance policy. One of these exclusions is typically business-related activity.

So, if you work from home and are sued for something related to your business, it’s unlikely that your umbrella policy would provide any coverage. However, there are some exceptions. For example, clients or customers who come to your home office may be covered under your umbrella policy if they are injured while on your property. Similarly, employees who work from your home office may also be covered under your umbrella policy in the event of a work-related injury.

In conclusion, whether or not umbrella insurance will cover a home office in Elmer, NJ, depends on the specifics of the policy and the situation. Business-related activity is typically excluded from coverage, but some exceptions include injuries to clients or employees. If you have questions about whether or not your umbrella policy covers your home office, please get in touch with Sloan Insurance Agency for more information.

Umbrella Insurance in New Jersey: What You Need to Know

Many people regard umbrella insurance as unnecessary, but Sloan Insurance Agency is here to convince you otherwise. Umbrella insurance has many benefits for people with a variety of investments that need more protection than what their existing policy can offer them. 

If you’re in the Elmer, NJ area and you’re curious about what umbrella insurance may offer you, keep reading. 

What does umbrella insurance offer?

Simply put, umbrella insurance kicks in once your current policy coverage runs out. It serves as an extra layer of liability insurance once your limits are reached and you risk having to pay out of pocket. Umbrella insurance is a wise financial investment for people who have a larger number of assets to insure and can fill in the blanks where other policies fall short. 

Umbrella insurance includes personal liability coverage, from things like libel and slander, that are typically excluded from standard liability coverage. This is one benefit that many people don’t know about, but find very valuable. 

Like many forms of insurance, you don’t realize how much you need it until you really need it. Don’t risk falling short on your insurance policy and putting yourself in a risky financial situation. Insurance exists so you don’t have to worry about what could happen; you simply prepare as best as you can and mitigate your risks and worry less. Umbrella insurance can help with that. 

Sloan Insurance Agency encourages all residents of the Elmer, NJ area to reach out if you are interested in investing in umbrella insurance to protect yourself even further. We’re here to help you find a well-suited policy that fits your lifestyle, needs, and future goals. 

Contact us today! 

3 Reasons You Should Invest in Umbrella Insurance

As defined by Sloan Insurance Agency in Elmer, NJ, umbrella insurance (also known as excess or additional coverage) is an insurance coverage meant to protect your assets in the event of a significant financial claim exceeding your current liability coverages.

Unfortunately, most people assume that umbrella insurance is for the rich and famous only. However, the reality is that umbrella insurance is suitable for everyone with a source of income. Here are reasons why you should invest in umbrella insurance.

To protect your assets

Whether you have insured your existing assets with other types of insurance coverages or not, subscribing to umbrella insurance will help protect them further. This means that your assets are safe from claims that exceed your typical liability coverages.

To cover ubiquitous, expensive claims

In America, you can be sued for absolutely nothing. And since litigations are never far from us, you are better off with umbrella insurance. Besides, legal claims can be expensive. For instance, if someone gets injured within your home premises, beyond seeking compensation for medical expenses, they may sue you for lost income. Add legal costs like attorney fees and other legal fees, and you can see why liability claims can exceed your current insurance coverages.

Broader coverage

Another benefit of subscribing to umbrella insurance is that it provides broader coverage than other liability insurance coverages. Besides covering bodily liability and property liability, umbrella insurance covers personal liabilities like libel and slander excluded in conventional liability coverages.

Besides, while boat, home, and auto insurance policies aren’t recognized outside the US, umbrella insurance covers you anywhere in the world.

Buy umbrella insurance today!

After reading this post, if you’ve discovered that umbrella insurance is for you, reach out to Sloan Insurance Agency in Elmer, NJ, and get your assets covered beyond what you can imagine!

Why umbrella insurance is a good idea for almost everyone

Insurance provides a vital service for most people. It protects their home, vehicles, health, and life. Most types of insurance coverage are pretty cut and dry. You know why you have auto insurance and what it does for you. Umbrella insurance is not quite so clear cut. Many people have no idea why it is valuable and what it can do for them. At Sloan Insurance Agency in Elmer, NJ, we serve the Tri-State area and have since 1948. We are a full-service independent agency with many years of experience. 

Many insurance policies have a liability component. You don’t need to own a home to benefit from liability coverage. It is also included with the vehicle, renters, and boaters insurance to name just a few. Umbrella insurance provides a supplemental layer of liability protection. Why do I need more liability protection?  Most traditional policies have a limited amount of liability protection. It has become common for people to resort to legal action when they are injured by something considered negligence or where another party is at fault. 

No one wants to get sued, but it can be very costly if it happens, and any assets you have could be at risk. You don’t have to be wealthy or have a huge number of assets to be sued. That is why umbrella insurance is a good idea for almost everyone. The only people who really can’t benefit from it are those who own nothing of value and don’t have a job whose wages could be assigned. For the rest of the world, umbrella insurance is an affordable way to protect what you have worked so hard to accumulate. 

Contact Sloan Insurance Agency in Elmer, NJ for all your insurance needs. If you have questions about umbrella insurance, give us a call, stop by our office, or email an agent. We are here to help. 

How to Utilize Umbrella Insurance Effectively

In today’s society, it is vital to protect your assets as much as you possibly can. Whether it comes to theft, damage, etc., those are situations that are out of our control. This is why we believe in preparing for the worst, even when we don’t know what that is. The earlier we make a plan to protect ourselves and our assets as much as we can, the better we will be in the future.

At Sloan Insurance Agency, we believe that umbrella insurance is critical to individuals and families. We are based in Elmer, NJ, and we have worked in the local community for over 70 years. Here is why we urge our clients to get umbrella insurance sooner than later.

Umbrella insurance protects you from losing your assets in a lawsuit you were not prepared for. Whether you are in the wrong 100% or it is bodily injury that simply happened on your property, if that person wins, then they will try to get as much as they can from you. If that lawsuit exceeds your home insurance liability coverage, then umbrella insurance is there to be the safety net to protect all of your assets. Umbrella insurance policies are typically around $1 million – $5 million. That way, you do not have to pay any of the expenses out of your pocket (theoretically). The umbrella insurance can be the difference between you keeping your most important assets in your possession, to losing it all in the blink of an eye.

Are there any questions or concerns that you may want to ask our agents? Contact Sloan Insurance Agency in Elmer, NJ to speak with our team about your options and how you can get started with a policy.