The world we live in is increasingly litigious. Things that once seemed so inconsequential have now become fodder for attorneys to work out in court. This makes anything from owning a home, renting a home, or driving a car in New Jersey a bigger risk than many people realize – even when you’ve done nothing wrong. Add a mistake into the mix and the stakes become even higher.
Even with general liability insurance coverage for a home or auto policy there’s no guarantee that it will be adequate if you are found at fault in an accident that causes serious injury or even death to another person. Once the limits for a liability policy are exhausted, your assets and even your personal income may be forfeit in order to pay the judgment levied against you.
This is where a New Jersey umbrella liability insurance policy comes into the picture, helping your family to weather the financial storm a lengthy trial or hefty judgment can create.
What is Umbrella Insurance?
Umbrella insurance is a type of liability insurance coverage that provides additional liability protection beyond the current limits of your existing liability policies (home, auto, boat, etc.). The coverage kicks in one the limits of your existing liability coverage is exhausted. Umbrella insurance may also cover your liability needs for claims that are excluded by your general liability coverage, such as libel, slander, and similar claims.
Why is Umbrella Insurance a Necessity?
For most people it IS a necessity. The more you have, the more you have to lose. It also makes you a bigger target for those looking for an opportunity to sue. Even if you believe you have little to lose, it’s a good idea to discuss your situation with one of Johl & Company’s independent insurance agents to determine whether you would benefit from an umbrella policy and how robust your policy needs to be.
Accidents happen. Unfortunately, some of them can have catastrophic and devastating results. People want to hold someone responsible. That someone may be you. It doesn’t mean the rest of your life should be ruined for one mistake. That’s what umbrella insurance is for. To preserve your personal assets and financial future in the event of being “at fault” in one of these devastating accidents or events.
The good news is that umbrella coverage is an affordable and cost-effective insurance coverage for the peace of mind it provides the average household.
Other Liability Issues Covered by Umbrella Policies
Umbrella policies offer additional coverage beyond the scope of existing liability policies you may have. It also offers protection from other situations as well, including each of the following:
- False Arrest
- Defamation of Character
- Invasion of Privacy
This protection involves assistance with legal fees, settlements, lost wages for court appearances, and/or judgments.
How can Johl & Company Help You with Your Umbrella Insurance Needs?
As an independent agency, Johl & Company is dedicated to helping you get the insurance coverage you need rather than meeting a certain quota for sales. We aren’t beholden to any one insurance provider — in fact we work with many insurance carriers. This means we can help you find the right protection you need for your unique and individual situation at the best price.
We believe that our customer service is outstanding and the primary reason we’ve served New Jersey insurance needs for so long. It would appear that our customers agree according to the reviews they’ve shared about their experience with Johl & Company. Let us help you get the protection and peace of mind you need today by discussing your umbrella insurance needs with us.