All City Insurance Blog

Umbrella insurance in New York at All City Now insurance agency, Queens is a type of personal liability insurance policy that provides additional coverage beyond the limits of your existing insurance policies, such as homeowners, auto, and other personal liability insurance. It is designed to protect you from significant financial loss in the event of a severe accident or lawsuit by kicking in when your primary insurance limits are exhausted.

What does umbrella insurance in Queens, NY typically cover?

Determining whether umbrella insurance is worth it in Queens, New York, depends on your individual circumstances, assets, and risk tolerance. Umbrella insurance can provide valuable additional coverage and peace of mind, particularly in a densely populated and litigious environment like New York City.

Umbrella insurance at All City Now insurance agency, Queens typically covers:

• Bodily injury liability: If you are found responsible for someone else’s injuries, this coverage will help pay for medical expenses, lost wages, and other related costs that exceed your primary insurance limits.
• Property damage liability: This coverage applies when you are responsible for damage to another person’s property, such as their vehicle or home, and the costs exceed the limits of your existing insurance policies.
• Personal liability: Umbrella insurance can also cover personal liability situations that may not be covered by your standard policies, such as defamation, libel, or slander.
• Legal defense costs: If you are sued, umbrella insurance can help cover the legal fees and court costs associated with your defense, even if the lawsuit is deemed frivolous or baseless.

Umbrella insurance policies usually offer coverage in increments of $1 million and can go up to $5 million or more, depending on your needs and the insurance provider. Keep in mind that umbrella insurance is supplementary and requires you to maintain certain levels of coverage on your primary policies to be valid.

When should I get umbrella insurance in Queens at All City Now?

If you have significant assets, such as property, savings, or investments, an umbrella policy can protect these assets from being seized or depleted in case of a lawsuit that exceeds your primary insurance coverage. If your lifestyle or occupation exposes you to higher risks of accidents or lawsuits (e.g., if you own a swimming pool, frequently host large gatherings, or engage in high-risk recreational activities), an umbrella policy can provide an extra layer of protection. Evaluate the limits of your existing auto and homeowners insurance policies. If you feel that these limits may be insufficient to cover potential liability claims, umbrella insurance in New York can be a cost-effective way to increase your coverage and can help cover legal defense fees and court costs, which can quickly add up, even if you are not found liable.

Overall, having umbrella insurance in Queens, NY can provide a sense of security and financial protection, knowing that you have additional coverage in case of a significant claim or lawsuit.

While umbrella insurance is not mandatory at All City Now insurance agency, it can be a valuable safety net for residents of Queens, New York, who want to protect their assets and financial well-being. Carefully assess your individual situation, risk factors, and the potential benefits of umbrella insurance to determine if it’s worth it for you.

New York residents may benefit from umbrella insurance to protect their assets and financial well-being in case of a large claim or lawsuit that exceeds the coverage provided by their standard insurance policies.